What can I do if the seller of my car forged the title?

I just bought a 96 camry from a guy that seemed to be nice and honest. It's been a month and I haven't registered it as South Carolina gives 45 days and I have been on vacation. I just noticed that the title is in another name and he said that he acquired the car from a neighbor, so that is whose name I believe is on the title. However, he signed the title in the title holder's name, not his own. I bought the car for $1900 and recently took it to my mechanic and was told it would take at least $3000 to fix shocks, struts, brakes, exhaust and few others. So, obviously I am not happy. Do I have any legal rights with the forged title??