If an action is brought or a counterclaim is raised to recover specific property other than land from a party who does not dispute the title of the party seeking recovery and the first-mentioned party claims to retain the property by virtue of a lien or otherwise as security for any sum of money at any time after that claim appears, the Court or a judge may order –

(a) that the party claiming to recover the property pay into Court the amount of money in respect of which the lien or security is claimed and any further sum for interest and costs; and

(b) that on payment into Court being made, the property claimed be given up to the party claiming it.