1031 ? One Partner Wants To Cash Out and Pay Tax

[Neal Salmen]

I am a 1/3 member of an llc, with 2 other 1/3 members, that own 3 properties inside the LLC. I would like to get my investment back and pay taxes (i have losses I can apply). The other 2 members would like to keep their tax deferrance continuing, how might one proceed?

A couple thoughts I had was we could do a refinance, and then with the money they could buy out my ownership in the LLC.

The other would be sell, exchange, refinance, and buy out my ownership.  Currently the properties are owned with no debt in place.