In this video segment, Adam Foster Esq. of Foster & Jones gives an introduction to real estate transactions. Negotiating real estate contracts in the cannabis context involves a series of tradeoffs between buyer and seller or landlord and tenant. Typically both parties want to maximize their own sense of security and certainty while preserving the flexibility to deal with changes in law and market conditions. Overall there is a lack of agreement on standard or “market” terms for cannabis real estate agreements, and lawyers often claim that whatever term they last saw that benefits their client is market within the industry.
Due Diligence and Licensure
4m
In this video segment, Adam Foster Esq. covers due diligence and licensure in the world of cannabis. When looking at doing your due diligence, it is vital to look at zoning and licensing. Zoning defines what activities or uses are permitted in certain defined areas, while licensing can involve questions regarding good moral character, distance restrictions, and caps on the number of licenses. It is also typical to have additional inspections (generally conducted by local authorities) that examine fire safety, construction (certificate of occupancy) and environmental issues.
Security - Leases
9m
In this video segment, Adam Foster Esq. tackles security and leases. What kind of security can the tenant put up to guarantee the performance of the lease? State statutes often limit security interests in FFE, licenses and product.
Option Agreements
4m
In this video segment, Adam Foster Esq. touches on option agreements. Tenants generally put significant money into TI and build out, particularly for cultivation use. Market rent tends to increase but is hard to predict.
Lack of Bank Financing
3m
In this video segment, Adam Foster explores the lack of bank financing in the cannabis industry. Hard money lenders typically charge 12-15% plus due diligence and loan origination fees. Lease with purchase option or sale and leaseback arrangements are common. Using a property for cannabis-related activities typically violates mortgage covenants regarding compliance with federal law.
Federal Illegality
2m
In this video segment. Adam Foster, Esq. talks about federal illegality in cannabis. Property seizure is theoretically possible but he is not aware of seizure where tenants are obeying state law. If changes to the legal atmosphere render usage in non-compliance or if either party receives written notice from any governmental entity requesting discontinuance of use on the property, either party will have the option to terminate a lease with 90 days written notice or may terminate it sooner if the applicable governmental notification requests it.
Forms (Pro Tips)
7m
In this video segment, Adam Foster, Esq. breaks down standardized forms. Tenants would prefer to opt-out if they cannot obtain licensing but most landlords are resistant. Language permitting landlords to use self-help is generally a bad idea and leases should discuss procedures for landlord inspection.
Real Estate Transactions is also part of:
LP
Cannabis Compliance and Regulations
12 courses
12h 17m
FAQs
Are there any prerequisites?
No. This program is available to anyone.
What's included with this program?
Online courses comprised of engaging videos and written materials, knowledge checks at the end of every module to assimilate your learning, private forum for students to connect and provide support, downloadable references to keep and access on your phone, and your official Green Flower Certificate (once you pass the exam).
Can I take the program online?
Yes. Green Flower Programs are 100% online and can be taken from anywhere in the world.
Who should get a Green Flower certificate? What will it do for me?
Whether you are looking to enter the cannabis industry, get hired by a cannabis company, invest in the cannabis market, win a cannabis license, become a more knowledgeable advocate, better serve the patients in your care, or contribute more deeply to your organization, getting a Green Flower Certificate will make you exponentially more confident, credible, and valuable to the cannabis industry today.
How do I pass the course?
You'll need to achieve a grade of 80% on the Final Exam to pass the course and receive your Green Flower Cannabis Fundamentals Certificate.
What can you tell me about the final exam?
The Green Flower Cannabis Fundamentals Exam is a comprehensive multiple choice exam administered online. A grade of 80% is required to pass. Enrollment allows two attempts to achieve a passing score. You will have 365 days to complete both the program and the final Exam. After 365 days, you will no longer have access to the program or testing materials. This is a closed book Exam. Upon Passing, you will receive your official Green Flower Cannabis Fundamentals Certificate to hang on your wall and use for credibility and trust in the Industry.
What happens if I don't pass the exam?
You will have two chances to pass the final exam with enrollment. Retakes are $69 after that. You must achieve an 80% passing score to receive your Green Flower Certificate.
Is your program accredited?
No, Green Flower is not an accredited school and doesn't plan to be. We produce trusted cannabis education led and validated by the world's top experts, and our programs are utilized by companies, associations, nonprofits, and governments around the world.
Will there be any mailed, hard copy books or reference materials?
No, nothing will be mailed and no hard copy text will be assigned. There are materials in each course that you can download, print, and use at your convenience.
Can any module be visited more than once, to reinforce learning?
Absolutely! You can review any and all materials as many times as you would like in the 365 days (30 for Sell-SMaRT) your program is open.
Refund Policy
We understand that sometimes plans change. If you can no longer take the course, please email us no later than 7 days after your purchase. We will be happy to issue you a refund (minus our enrollment fee of $20). No refunds will be given to cancellations made after 7 days of purchase.
Green Flower Inc 4744 Telephone Rd Ste 3-289 Ventura, CA 93003