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Foreign agreement REITs have numerous details and requirements that are essential to meet in real estate deals. Understanding compliance is crucial; without it, drafting appropriate agreements can be challenging. Simply stating "this shall be compliant" is insufficient if the implications of such a statement are unclear. It's vital for all parties involved to grasp these requirements. Misunderstandings can lead to significant issues, as seen in instances where management provisions in LLC agreements are vaguely stated, potentially leading to explosive consequences. Therefore, having a checklist for general business participants in joint ventures is recommended to ensure all compliance aspects are covered.