Can I buy a Verizon iPhone and deactivate it?

I am opening a new line on a Verizon family plan. I intend to buy and activate a new iPhone 5 on that new line since it will only cost me $200. But I have an inactive Verizon iPhone 4 at home that I would like to use in place of the iPhone 5. Is it possible to purchase the iPhone 5, deactivate it and activate the iPhone 4 on the new line that I purchased the iPhone 5 with? If it is possible, is there any charge or negative repercussions of doing this? Thanks to who ever can answer my question!
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  1. Why would you even buy an iPhone 5 if you have a 4 at home?

    Regardless, to get an iPhone for $200 you're clearly talking about signing a contract. If you sign a contract, you are legally obligated to follow through with it. That contract states you will use the phone that you got when you signed it. The only way out is to buy out the contract, and it's incredibly expensive. $40 per month left of the term in fact. So if you sign a 3 year contract, that's $1440.
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