Can i Recasting mortgage on 1031?

[Bernadette Andrews]

My husband and I are preparing to do a 1031 for the first time. We're planning to sell a home in VA and purchase the replacement in DC. We are financing and plan to put down 20%, or hopefully more. Since the replacement property is much higher and we'd like to reduce the principal, is it possible to recast (lower principal) using a lump sum amount from an inheritance I'm expecting within less than a year of completing the exchange? Thank you for some expert advice.