(a) After the levying officer takes possession pursuant to a writ of possession, the levying officer shall keep the property in a secure place. Except as otherwise provided by Sections 512.020 and 514.050:
(1) If notice of the filing of an undertaking for redelivery or notice of objection to the plaintiff’s undertaking is not received by the levying officer within 10 days after levy of the writ of possession, the levying officer shall deliver the property to plaintiff, upon receiving the fees for taking and necessary expenses for keeping the property.
(2) If notice of the filing of an undertaking for redelivery is received by the levying officer within 10 days after levy of the writ of possession and defendant’s undertaking is not objected to, the levying officer shall redeliver the property to defendant upon expiration of the time to so object, upon receiving the fees for taking and necessary expenses for keeping the property not already paid or advanced by the plaintiff.
(3) If notice of objection to the plaintiff’s undertaking or notice of the filing of an undertaking for redelivery is received within 10 days after levy of the writ of possession and defendant’s undertaking is objected to, the levying officer shall not deliver or redeliver the property until the time provided in Section 515.030.
(b) Notwithstanding subdivision (a), where not otherwise provided by contract and where an undertaking for redelivery has not been filed, upon a showing that the property is perishable or will greatly deteriorate or depreciate in value or for some other reason that the interests of the parties will be best served thereby, the court may order that the property be sold and the proceeds deposited in the court to abide the judgment in the action.
(Amended by Stats. 1982, Ch. 517, Sec. 119.)