Nope, not that easy. Doesn't quite happen that way. In order to put a bike on the road under and "assembled from parts" title. The person must have seven major parts replaced from another bike. This means that i have to buy a frame, get a sperate engine, seperate forks, seprate wheels, seperate tires, yada yada yada. You must have all the reciepts from those parts. They will run the vins on everything they can. Anything that is stolen or has a recorded lein on it will not work for obvious reasons. If your reciept for a part doesn't have the vin number of the bike it came off of, then you mine as well not even show up for the inspection.
That is why you can't assemble a bike from one that has a lein on it. Your only option at this point is to sell off the parts individually. This is still illegal since their is a lein on the bike. The lein company actually owns the bike, so selling off the parts is not up to you. The only way you could do this without getting in trouble is if you went through a bankruptcy and you were awarded the bike. Then and only then can you part it out, because it can never be put on the road until the lein is paid off. This is a gray area which is still up for debate whether its 100% legal to do. Best of luck to ya. Best bet is to ebay it.