is there available literature regarding 1031 exchanges for REITS?

Answer 1

The best place to go to the IRS (link below):
http://www.irs.gov/businesses/small/industries/article/0,,id=98491,00.html

The two relevant forms are Pub 544, which will have the rules in regulations in "IRS English" - the not-so-easy to read text. The form you fill out is the Form 8824.

However, note that 1031 applies only to the Real Estate Investment Trusts, but not to the owners of REITs for two reasons.

1) The REIT is the one doing the exchanging of property, not you. REITs, as corporate entities, are considered legal "persons" by the law. They get the tax benefit. While the profits flow-through to you, you do not get a flow through of the tax benefit directly.

2) Even if they did flow through (which they don't), US Tax Law USC 26, Section 1031, says that exchanges do not apply to certificates of Trust.