American Security and Trust Company v. New Amsterdam Casualty Company

The primary question presented by this appeal is whether the secured party under a chattel deed of trust or the execution creditor under a writ of fieri facias is entitled to the net proceeds from the sale of an automobile sold by the sheriff under the writ.

The declaration filed by the secured party, the American Security and Trust Company, against the execution creditor, the New Amsterdam Casualty Company, and the Sheriff of Montgomery County, aside from alleging that the sum of money represented the net proceeds of sale, stated that the money belonged to the secured party because it had a…