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Probate & ProPerty j September/OctOber 2009 33 Richard R. Spore III is a member of Bass, Berry & Sims PLC in Memphis, Tennessee. Efficient and effective management is obviously imporrtan to the success of any real estate joint venture (meaning any entity formed for co-investment by multiipl parties, including general partnerships, limited partnersships and limited liability companies) at any time. The current recession, however, poses unique short-and longteer challenges that make good management...