Bought a car. Didn't realize title was a memorandum title. What to do?

The long (my dumbness) story. State:MA

We bought a car from a private party. He signed the back of title and gave the car and title to us and we gave him his money. Only when we went to RMV, we realized that this was a memorandum title says %26#039;not good for resale%26#039;. The guy had a car loan, he finished paying and the title has actually %26#039;release of first lien%26#039; box signed. However, RMV wants the original title. He called the bank and they say that what they sent to him is the only title present. Now how do I register this car? What are my legal options? How can I force the guy to take the car back, if there is no option? Is there a law protecting me (from my dumbness).

Bought a car. Didn%26#039;t realize title was a memorandum title. What to do?

A duplicate title must be issued, and they bank must sign off that the loan is paid! That title is then signed to you and you can get your plates!

Bought a car. Didn%26#039;t realize title was a memorandum title. What to do?

Go to the police, and charge the guy with theft by deception, or what ever the cops say, He will not want that, so you get your money one way or another.