Depends on where the ownership info is coming from.
An N-Reg can't be owned directly by a foreigner, and I believe the Stearman is N-reg. It's entirely possible that she owns it but it's registered through a company that offers registration services for foreigners (maybe Ewald's can, and that's where the "Ewald owns it" story is from).
If you look up my registration for example you don't find my name, you find "Southern Aircraft Consultancy Inc Trustee".