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Foreign agreement REITs come with extensive details and requirements, which should be straightforward to address in most real estate transactions. However, without knowledge of these compliance aspects, drafting can be challenging. It's crucial not to accept vague phrases like "this shall be compliant" without understanding their implications. For instance, in past deals, provisions about LLC management that seem benign can lead to significant issues if not properly interpreted. To aid general business professionals in joint ventures, maintaining a checklist is essential to navigate these complexities and avoid pitfalls.
