Only if they registered it and/or bought the extended warranty. (I think)

I believe that if it is reported as stolen and the owner had the serial number written down elsewhere, that its on you should you get caught with it and the all the CPS need to do is type in that serial number. DH and I actually ran into this, if someone is selling something and it sounds to good to be true..it likely is. We were offered a killer deal on an electronic product so I told DH that we should check into it before we agree to buy it. It was in fact reported stolen! Agree with the reply above too.