1 attorney answer
The person that gifted you the car may have been participating in "title jumping" which is a common tactic to avoid paying taxes by never being listed as the owner of the car. The next person who registers that car may be liable for paying the taxes since it was last registered.
A best practice may be to contact the listed seller on the title and confirm his/her intention to get rid of the vehicle. After that you can complete the form with them and take the title to be registered at the DMV.
You may want to look up the standard presumptive value for the car.