Licitation over the things value of which exceeds share of person offering the bid in properties to be partitioned

Where the said declaration falls on things, value of which exceeds the share of the declarant in the properties to be partitioned, and the same declarant does not agree to deposit immediately the excess, the object of licitation shall be put in public auction and sold for the highest bid offered above the appraisal value. Sole paragraph – In the absence of bid above the appraisal, the declaration for the licitation shall be deemed as not made and the partition shall be proceeded with as if no declaration was made.