I know there aren't many of us in Indiana, but I thought I'd share my experience. Used to be that you could do it like (apparently) it can be done in Alabama - wander in to the BMV, hope you get someone cooperative and sympathetic. Now it's more bureaucratic, but still pretty simple. Go to the BMV website, and find the "Affidavit of Ownership" packet.
Currently, here:
http://www.in.gov/bmv/files/Affidavit_of_Ownership_Packet.pdf Ideally you've done this before buying your new bike - if so, print out the odometer disclosure and bill of sale forms, and take them to the seller with you. Let the seller know you'll be sending them a certified letter, and ask them to REFUSE it when it comes.
Get the VIN checked by the police, fill out the rest of the paperwork, send the letter, wait for it to come back, then send the whole mess to the BMV central title processing office. In a couple weeks, your new title arrives in the mail.

At least, that's how it all went for me. Could have been quicker and less hassle, but the total cost, including postage and title fees etc only ran about $40-$45, so I'm not complaining!
Hope this helps someone else some day!