New Cannabis Laws Make Cannabis Businesses Legal: The new California laws made medical and recreational marijuana use legal, effective January 1, 2018. That’s what Cannabis Tenants have been waiting for. Cannabis Tenants need to lease a commercial location before applying for the new licenses available in California. Tenants are now rushing to sign commercial leases. Tenants have two choices: Go to the very best commercial brokers or just wing-it! The best commercial brokers will find you the best property available on the market and they will also advise Tenants to (a) not use a dual-broker arrangement [(See, e.g., Vice v. Thacker (1947) 30 Cal.2d 84, 90 [[W]here an agent has assumed to act in a double capacity, a principal who has no knowledge of such dual representation . . . may void the transaction.]) and (b) to hire a commercial lease attorney to safeguard them in this new and risky Cannabis business.
New Industry Risks: New industries require new laws and new relationships which often conflict. At this time, the Federal government and the state governments (“California”) are in a state of confliction, and during such periods, it is advisable to take every precaution to avoid the pitfalls of conflicting law and the lack of safe harbor best practices. In this environment, the best commercial real estate brokers understand the inherent risks to them and their clients, and advise their clients to hire an attorney to ensure that the transaction is made knowingly as safe as possible for the client’s interests.
Smart Cannabis Addendum: But what can an attorney do to protect interests which conflict with the federal government? An attorney along with the help of a commercial real estate broker can fashion an Addendum which establishes the lawful and factual foundation upon which a client may legally enter the lease safely, and in cases of the tenant who is a prospective Cannabis licensee, ensure that the terms and conditions do not violate the vast new Cannabis licensing regulations proposed November 17, 2017 and Cannabis tax regulations proposed November 19, 2017.
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By Richard Ivar Rydstrom, California Attorney at Law, J.D. Law, Bachelor of Science in Public Accounting;
Over 27 Years Transactions, Asset Protection, Business & Real Estate Litigation
Serving Newport Beach, San Diego, Los Angeles, Silicon Valley
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