Cannabis and Real Estate

A hot topic right now is Cannabis and Real Estate.

Given how new this topic is, there is still a lot of change taking place.  That said Realtors and Real Estate Associations are actively working on effective ways to manage the risks associated with Cannabis legalization and Real Estate.

At this point in time I would like to share a couple of key points to consider when acting as a Buyer or Landlord:

  • BUYERS, consider inserting a TERM into your offer that says during the Seller’s ownership of the property it was not used for the sale, distribution, cultivation or harvesting of Cannabis.
  • LANDLORDS, similarly consider inserting a TERM into your lease that restricts tenants from the sale, distribution, cultivation or harvesting of Cannabis within the rented premises.
  • LANDLORDS, consider inserting a TERM into your lease that restricts tenants from smoking Cannabis within the rented premises.