Cadillac 390 Oil issue. Need some help

I am looking at buying a 62 Caddi. The only thing is, oil is blowing out of the vent onto the engine (not a ton, but some). What would cause this? Is this a major issued or minor?? Please let me know. Thanks!!! See picture for details.

 

Cracked rings ?

 

If it's blowing out the breather tube,or oil fill tube, it could be "blow-by" from
worn piston rings allowing combustion gases to to pass into the crankcase and
out the breather. This may not be the problem, just a possibility.
Do you get any blue/white smoke out the exhaust(indicating maybe worn rings
or valve guides)?

 

SOme white smoke for sure. How bad of an issue is this?? I am not educated in engines at all.

 

With only the info given, some people would say that the engine may need a rebuild.
If it is pretty high mileage that might be the case.
However, a engine that has worn rings may serve you for 20,000 more miles.
A compression test at a local garage will reveal a lot about the engines condition.
You can also do that yourself. It's not beyond the amateur mechanic to do it.

 

Thats what I needed to know. Thanks.