1031 exchange of real property used in a business operation

A family (now a variety of cousins) owns real property and a long
established lodging business using the property, run by a subset of the
cousins on behalf of all property owners equally (they take pretty small
wages for their efforts). When the time comes, will some of the owners be
able to perform a 1031 exchange for their share of the real property? If
the business and property are sold together, is this still true? Will there
have to be some allocation of sale price between the property and the
business? Is there anything they can or should do now in restructuring this
situation to achieve a better result later on? What else should I be asking
here?
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taxed and spent

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