This is the final line setting up the punchline that follows, but it also contains a bit of wordplay because the word translated as "sent" means "departed" in the sense of dying.  The form is one that says that if this happens, this other thing is likely to happen in the future. 

The Greek word translated as "and" means "but", "however", and "on the other hand". Since it always falls in the second position, translating it as "however" often captures its feeling better.  The Greek makes this discussion much more of a dispute, with one speaker contradicting the other than the KJV translation. 

The word translated as "he" is the Greek definite article, which usually precedes a noun and, without a noun, takes the meaning of "the one" or "that one".  The Greek article is much closer to our demonstrative pronouns ("this", "that", "these", "those"). See this article for more. This word is necessary only to get the placement of the "however" in the second position. 

"Said" is from the Greek verb that means "to say" and "to speak" also. This is the common form of "said" in this story, but the previous verse uses a different verb for some reason. 

The word translated as "nay" is a different form of the usual Greek negative of fact meaning "no truly", "assuredly not", "not however", "nevertheless," and "notwithstanding."

"Father" is the Greek noun that means "father" or any male ancestor so "forefathers". It is the word that Christ uses to address his own Father. 

"Abraham" is Abraam, which is the Greek form of "Abraham."

The Greek word translated as "but" denotes an exception or simple opposition. It is used to emphasize the contrast between things like we use "rather". It is the Greek word "other" like we use "otherwise".  This is not the common form of Greek "but" earlier. 

The Greek word meaning "if might" indicates more of an expectation of something happening than "if" alone. This is often how we use the word "when".  The use of this form is part of making the "then" phrase seem more likely than not. 

The word translated as "one" means primarily "anything" or "anyone," but can be used to mean someone of note as we would say "someone". The "from the dead" phrase follows this word, describing the person. 

Here, we come to the play on words. The Greek verb translated as "went" isn't the most common verb translated as "go" in the NT and the form isn't active but passive. This word means "to lead over", "depart," and "to carry over." This word, however, uniquely means  "to depart from life" as we say "the dear departed".  The form is a passive possibility, so "might be departed". The departed man, Lazarus, is being made to depart from Abraham back to our world. 

The word translated as "unto" means "towards", "before", "by reason of (for)," and "against."

The word translated as "them" is the Greek word commonly translated as third-person pronouns in English.  

The word translated as "from" means "from" in both location and when referring to a source.

The word translated as "the dead" means "corpse", "a dying man," and "inanimate, non-organic matter."  There is no "the" used here so "from death" works better. This phrase, however, doesn't end the phrase, but follows the "someone", describing the someone.

The word translated as "they will repent" has nothing to do with sin or, generally, with religion or asking for forgiveness. The Greek word translated as "repent" has a primary meaning of "to understand something after the fact", with the sense of seeing it is too late. Its specific meaning is to "understand afterward," as seeing the truth after a mistake is made. From this idea, it comes to mean to "change your mind", shifting your perspective. The form could be the future tense, as translated but the sense is that this is likely to happen, not that it certainly will.