Any person claiming to be the owner of such property may institute an action in replevin for the recovery of such property. Any bond given in such suit to obtain possession of said property shall be liable for any depreciation in value of the property between the date of the giving of the bond and final termination of the suit. If no bond be given by either party within seventy-two (72) hours after the seizure of the property under the writ, the sheriff on the written demand of either party shall sell the same for cash at public outcry after posting a notice of the time and place of sale at three (3) or more public places in the county. The proceeds of sale shall be paid into the registry of the court to await the final outcome of the suit. The defendant in such suit, in the event he or any person acting for him or with his consent has raised, floated or salvaged the property whose title or possession is in issue, shall be entitled to a lien on such property for the reasonable expense of raising, floating, or salvaging such property.
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