Wouldn't the storage facility need clear titles on all before they could sell?
I think most storage places have a clause in the rental agreement that after a certain period of default, the items in storage become theirs.
They could put it up for sale or auction and they don't need a title to sell it as salvage, but the buyer would have to have one to register it. By law, the storage facility can only sell it for what is owed and after that, it's not their problem.
I would walk away from it also. Life is already hard without taking on something like that. There are other deals on good boats out there.