Matt,
In my experience with one of my projects, (PT-17 Stearman N69763), Brandon is absolutely correct. The previous owner probably didn't respond to the FAA's occasional requests for status updates, and so they have sort of "quarantined" the registration on this one. As Dan and Brandon mentioned, the FAA is trying to clean up a lot of these questionable registrations, since a lot of times, the planes may not even be in existance anymore.
The "may not be suitable" statement will go away once they have gone through your paperwork and made sure everything is in order and issue you an aircraft registartion card.
Just be patient, they seem to move
very slowly nowadays......
Steve
