Section 35. If there is reasonable doubt as to the ownership of personal property or as to its liability to be taken on execution, before or after the execution has been levied thereon, the officer may require sufficient security from the creditor to indemnify him for taking or continuing to hold the same. If sufficient security is not furnished within a reasonable time after the officer has made a written demand upon the creditor or his attorney, the officer may refuse to levy the execution or, if he has already levied it, may discharge his levy, without liability to the creditor therefor.