Citizens Bank of Lavaca v. Perrin & Sons, Inc.

George Rose Smith, Justice.

The appellant, Citizens Bank of Lavaca, seeking to collect an unsecured $400 debt owed to it by James Ray Smith, obtained judgment against Smith in the Sebastian circuit court and attached a used tractor owned by the judgment debtor. At the ensuing attachment sale the tractor was bought by a third person, Carl Triplett, for $700. The bank satisfied its judgment from the proceeds of sale and deposited the surplus with the sheriff for the benefit of the judgment debtor.

Unknown to the bank, Smith’s title to the tractor was subject to a $1,561.44 lien in favor of the…