It sounds like a Magnificent Find.
I don't hear Motion mentioned anywhere in the Paperwork,it was ordered new from Baldwin Chevrolet,then a 427 transplant done at Baldwin Chevrolet it sounds like.Even if thats the case,I would leave that 427 engine in that Chevelle,especially with the docs to substantiate it.
Just out of Curiosity,do you know where the Original 396 Engine it was born with is at today,seeing as you said it was sold to another later on?
What paint color/interior color and options are on this Car when delivered new,such as tach.,Trans & rear ratio,does it have a Cowl Plen.etc.?
Can you post some Pictures for us..WELCOME!