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There is chance that the seller is the original and only owner and that he either transferred the title to or from a family member or leased the car to a personal business to use as an expense.
I'd put more focus on the PPI results and service records, than tracing the ownership back to square one.
I bet if you ask the seller he would let you know the reason for the questionable ownership records. If he blows you off or gives you reason to doubt his story, just pass on this one and find another that meets your expectations.
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