31 CFR § 802.102 - Risk-based analysis.

---
identifier: "/us/cfr/t31/s802.102"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 802.102 - Risk-based analysis."
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "802.102"
section_name: "Risk-based analysis."
chapter_name: "OFFICE OF INVESTMENT SECURITY, DEPARTMENT OF THE TREASURY"
part_number: "802"
part_name: "REGULATIONS PERTAINING TO CERTAIN TRANSACTIONS BY FOREIGN PERSONS INVOLVING REAL ESTATE IN THE UNITED STATES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "50 U.S.C. 4565; E.O. 11858, as amended, 73 FR 4677."
regulatory_source: "85 FR 3166, Jan. 17, 2020, unless otherwise noted."
cfr_part: "802"
---


# 802.102 Risk-based analysis.

Any determination of the Committee with respect to a covered real estate transaction, to suspend, refer to the President, or to negotiate, enter into or impose, or enforce any agreement or condition under section 721 shall be based on a risk-based analysis, conducted by the Committee, of the effects on the national security of the United States of the covered real estate transaction. Any such risk-based analysis shall include credible evidence demonstrating the risk and an assessment of the threat, vulnerabilities, and consequences to national security related to the transaction. For purposes of this part, any such analysis of risk shall include and be informed by consideration of the following elements:

(a) The *threat,* which is a function of the intent and capability of a foreign person to take action to impair the national security of the United States;

(b) The *vulnerabilities,* which are the extent to which the nature of the covered real estate presents susceptibility to impairment of national security; and

(c) The *consequences to national security,* which are the potential effects on national security that could reasonably result from the exploitation of the vulnerabilities by the threat actor.