Edge Sealer On Wooden Van

[gw]

Hi People, New member here.

Just taken delivery of a 1967 home built 10ft wooden van.

It's a little cutie

The outside is in need of a repaint and have read the threads covering paint types which have been very helpful.

My question is.

On the edges of the frame it has a alloy strip, and under this strip is some type of sealant, light brown in colour, soft and rubs off with fingers.

Any ideas what it is or what I can replace it with?

Was thinking the correct procedure would be to strip it out, then paint and replace it once the painting is finished.

Any help would be appreciated.

Cheers GW