Usually means: Auction process for dividing assets.
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We found 12 dictionaries that define the word licitation:

General (8 matching dictionaries)
  1. licitation: Wordnik
  2. licitation: Wiktionary
  3. licitation: Dictionary.com
  4. Licitation: Online Plain Text English Dictionary
  5. licitation: Webster's Revised Unabridged, 1913 Edition
  6. Licitation: AllWords.com Multi-Lingual Dictionary
  7. licitation: FreeDictionary.org
  8. Licitation: TheFreeDictionary.com

Business (4 matching dictionaries)
  1. licitation: Merriam-Webster Legal Dictionary
  2. Glossary of Legal Terms (No longer online)
  3. Licitation: Legal dictionary
  4. Bouvier's Law Dictionary 1856 Edition (No longer online)

Definitions from Wiktionary (licitation)

noun:  auction

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