I’m just wondering what you’re going to tell Police if you get nicked for handling stolen goods ?
Basically, lets say you sell this and somewhere down the line your buyer or the person that buys it from them etc etc etc names you as having sold it at one stage. If it is investigated properly you’ll be paying a visit to a Police Station, driven there in style in a pair of bracelets.
I’m going to play Devils Advocate here mate and throw a few questions that could come your way.
You’d be asked - when you told them that you bought it in good faith - did you not think it was odd that there was no documents ?
Did you not check the bike over when you bought it and not see that there were no Engine / Frame Number - after all, you were going to use this bike to race on a track and surely you or a friend would give the bike a very good checking over ?
Did you not think it odd that there was no ignition barrel and it was wired into the kill switch ?
I don’t know you mate but if I was to have on my ‘work head’ and someone started to come out with stuff like that I’d either think they were very guilty or very naive.
Hopefully you’ve still got the reciept and the address of the bloke you bought it from - what’ll happen though if that person (in name) doesn’t exist and anyone at that address (who may have lived there for years) claims never to have sold you any bike ?
I’m not trying to scare you mate but you could be leaving yourself wide open if you try and sell this on with a very strong suspicion it is a nicked bike.
So your options are -
1/ Keep the bike and carry on using it as a track bike. Risk getting stopped (maybe someone who checks the bike at a track day may notice it and bubble you up to police) with it in your possession - Load of grief for you, the bike getting seized and you possibly (more than likely) getting nicked and getting all those dodgy questions thrown at you by coppers who probably won’t believe a word you say.
2/ Advertise the bike for sale and state on the advert or explain to potential buyers - no docs, no ignition barrel - wired to kill switch, no engine / frame numbers … expect then that Police will be informed as most bikers if they think someone is selling a stolen bike would probably grass them up to the old bill - High potential of getting nicked.
if that doesn’t happen
3/ Sell the bike and get named by the buyer if they get stopped or checked as having sold them a nicked bike - the bike would get siezed, the new buyer would lose any money they gave you as well as the bike - High potential of you getting nicked.
4/ Approach Police now and explain fully whats happened and what you’ve discovered along with giving them the details of the person you bought the bike from. If the bike is nicked then you will lose the bike and not get any money back. Plus point, you won’t get nicked.
I’ve got no doubts that you have acted in good faith mate, after all you wouldn’t have posted this up on the forum knowing that there are nasty coppers on here. But I just hope you realise and weigh up all the options and potential for grief that you may leave yourself open to in whatever you decide to do.
One thing that hasn’t been mentioned yet … that bike may have been someones pride and joy and lifted from outside their house … how would you feel if you had your bike stolen and then discovered a conversation like this about your bike 2 years later … I know what I’d want to do ! 
This post isn’t a pop mate, just letting you be aware of the possible potential for your actions, what you decide to do is up to and down to yourself.
I have been very stupid and did not even think of checking these out when i bought the bike as there was no reg document and at the end of the day it was a track bike. The guy i got it from seemed really genuine. Got it from his home address and he gave me a written receipt. My concern is that im know going to have a lot of trouble selling the bike on. Has anyone heard of or been involved with checks being done on bikes at track days?
