1031 Exchange to Refin possible or dangerous?

[Francina Jerez]

I am buying a property from a family member and would like to help family member do a 1031 exchange to a bigger property.  I was playing on the idea to go into buying another property with him and then refinance him out of the loan for the bigger property.  Pretty much buy him out of the bigger loan which he thinks would be a great idea and have me running everything anyways. We just wanted to know if this would be possible and what would happen on the exchange? Can it transfer to me or would he have to pay back original tax?

Maybe this wouldn't even work but its worth hearing everyone thoughts on this one.