On the subject of title, yes, it is important, and if a buyer wants to register and drive the car, title must be transferred properly. As for the value, it depends on the actual authenticity, which must be left to an expert. The good news is that you will find an expert in your town, just ask around. You can get a good idea of the market value by reading comparable advertisements in Hemmings Motor News, the best resource for classic car trading. Consider getting the car on the road and enjoy it for a year, you might find that you have inherited more than a car, but a piece of history and a healthy social circle.