Ive owned more than thirty-five locomotives over the years and never heard of a "title" as such for a locomotive or any other piece of rail equipment.

You may have this confused with the filing with the Surface Transportation Board indicating a financing agreement and older cars and locomotives had a plate affixed stating something like "Southern Pacific Trust Series xxx; First National Bank trustee, owner and Lessor" which were removed once the equiupment was paid for or the lease agreement expired.

Most states have a type of filing describing the asset, lessor and lessee which shows up if you do a credit check on the railroad but still no title

Shortline Sammie