Sounds a bit iffy?  Why no V5, but they have the keys?
  This bike has suffered a high-side.  The left hand footpeg is bent the wrong way for a lowside, and the scuffs on the tail unit are very high up.  If you look at the rear shot, it's got a bent subframe. 
 My guess?  Nasty high side and the subframe touched the ground first.  Could be quite expensive to repair. 
 Would be a cheap way to get the 999R motor and forks/shock into a 998 as a Frankie Chili replica though...  
 
  [Edited on 13-7-2004 by Twinfan]