1031 exchange with many working parts
I'm looking to do a 1031 exchange by selling property that has been in my family for years. The property is comprised of 4 parcels ranging from 1.3 acres to 16 acres, all adjacent to each other. 2 of the parcels have homes on them that are currently being rented and have been rentals for as long as I can remember Y er. Here's where it gets potentially complicated.
1-I own the property with my father and brother and we may have different interests in what to do with the proceeds when sold. Will my portion of the proceeds still qualify for a 1031 exchange if my Father or Brother do not want to do a 1031?
2-Also the property is currently collateral for another investment property but the bank that has the note on the other investment is willing to take a pay down from a portion of the proceeds that we receive from the sale of this property. Will the portion that the bank needs be considered boot or does it throw the whole exchange off? Or can everything be included in the 1031 because the other property in an investment.