When any estate is attached, or any debt or effects taken by process of foreign attachment, the defendant may apply in writing to the court in which such action may be pending, or any judge thereof, to dissolve the attachment lien upon the substitution of (a) a bond with surety or (b) a lien on any other property of the defendant which has an equal or greater net equity value than the amount secured by such attachment.
(1949 Rev., S. 8043; 1953, S. 3196d; 1961, P.A. 517, S. 44; 1971, P.A. 39, S. 1.)
History: 1961 act deleted obsolete provision for application to justice of the peace or municipal court when debt or damages do not exceed $300; 1971 act allowed dissolution of attachment lien upon substitution of lien on other property of equal or greater net equity value than amount secured by attachment.
Dissolution of attachment by substitution of a bond is a strict statutory proceeding. 58 C. 434. Cited. 72 C. 159. Effect where goods attached were held under conditional sale. 79 C. 572. Any common law bond may be used by consent; bond by two defendants conditioned on payment of any judgment “against them” covers judgment against one. 94 C. 91. Attachment as duress. 97 C. 131. Provisions of section are mandatory on court. 102 C. 315. Bond takes place of property; whatever destroys attachment destroys bond; in case of bond given to release foreign attachment, demand must be made on surety within 60 days after judgment. 104 C. 281. Burden is on defendant, in suit on attachment bond, to show value of property was less than amount of attachment. 109 C. 364. Cited. 136 C. 643; 145 C. 74. Dissolution of attachment governed by statute; no statute authorizes the release of an attachment because it is wrongful or unauthorized. 147 C. 233. Cited. 162 C. 32; 178 C. 250; 183 C. 85; 200 C. 406; 209 C. 15.
Cited. 1 CA 368. Provisions of statute are not discretionary; denial of the application for substitution after finding fair market value equaled or exceeded amount of original attachment held to be improper. 6 CA 350. Cited. 32 CA 118; 46 CA 399.
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