What is the ruling if the first half share is emancipated while healthy and the second half share is emancipated during the owner's terminal illness?

Primary text

If the first emancipation occurs while the owner is healthy, and the second occurs during his illness, the second emancipation is not effective because the owner has existing liabilities that exhaust his total value, which invalidates the validity of that emancipation, unless the heirs give their permission for it to proceed.