(1) No holding shall be partitioned in such manner as to create a fragment.
     (2) A fragment shall not be partitioned unless as a result of such partition its portions get merged in holdings of two and a half acres or more or in fragments so as to create holdings of two and a half acres or more;
     (3) Whenever, in a suit for partition, the court finds that the partition of a holding will result in the creation of a fragment, the court shall, instead of proceeding to divide the holding, direct the sale of the same and distribute the proceeds thereof among the co-sharers.
     (4) Whenever a holding is put up for sale under sub-section (3), a co-sharer shall have the first option to purchase the holding at the highest bid; if there are two or more co-sharers claiming the first option, that co-sharer who offers the highest consideration shall be preferred.