Marijuana and The Practice of Real Estate
4 Clock Hours
The implications for real estate are numerous. The conflict between state and federal laws create extra considerations. Real estate brokers should be up-to-date on Washington State laws regarding licensed marijuana-related businesses and ensure policies and practices support these new laws. In this class we will learn the following and more:
NWMLS Form 17 regarding the cultivation of marijuana
Red flags of a possible marijuana grow house
Considerations for homeowner associations regarding marijuana
Property management and Section 8 Housing issues
HUD’s Fair Housing interpretations regarding marijuana for medical use
Banking and lending concerns
How to document income for qualification and funds for down payment when your client is involved with a licensed marijuana-related business.
Is your client high? Consent and liability issues
Is your home inspector obligated to disclose signs of a former grow house?
Here is a great article from Annie Fitzsimmons on this topic:
Assisting Marijuana Clients? Be Careful, Dude!
Frequently Asked Questions on I-502 Rec Marijuana
The definition of “Manufacture” From I-502
“Manufacture” means the production, preparation, propagation, compounding, conversion, or processing of a controlled substance, either directly or indirectly or by extraction from substances of natural origin, or independently by means of chemical synthesis, or by a combination of extraction and chemical synthesis, and includes any packaging or repackaging of the substance or labeling or relabeling of its container. The term does not include the preparation, compounding, packaging, repackaging, labeling, or relabeling of a controlled substance”….and the definition continues on.
Question: Where are the medical cannabis dispensaries getting their marijuana?
Great question for which there seems to be no satisfying answer.
Dept of Health has a FAQ page. Scroll down to “Are Dispensaries Legal?” and the answer is….No.
This website from the Dept of Health has an extensive list of Q&As on Medical Cannabis
WA State Liquor and Cannabis Board: Map of all things marijuana. Updated weekly.
This website offers updated zoning maps for manufacturing sites
Washington State Bar Association
For Realtors or clients who need a referral to an attorney specializing in I-502
Washington State DFI
“Marijuana and Banking
U.S. Surgeon General Vivek Murthy
on medical cannabis
A map of all known drug labs from the DEA.
From the Dept of Justice
SOME END OF COURSE EVALUATIONS FROM THIS CLASS:
“Great class. Very informative.”
“I had no idea that the topi of marijuana would be so controversial and emotional. You set up the issue very well.”
“Excellent experience. Good interaction; fast paced.”
“Excellent class, timely topic!”
“Fun and interactive.”
“As thorough as we can be at this time, on this topic since our laws are still forming/in flux.”
“Thanks for covering the ethical as well as the legal issues.”
“Extremely favorable experience. Instructor was engaging and fun. She knows the material. I feel qualified to know what to look for when listing a home, when representing a buyer, or in dealing with the topic of marijuana in general. Thank you!”
“Fascinating subject matter, unchartered territory. An informative and entertaining learning experience.”
“All information was relevant and to the point. Opened my eyes to many potential challenges.”
“In today’s world, this class should be mandatory for all licensed real estate brokers.”
“Great class! Interactive and informative. Felt like I came away learning way more than I expected to learn. Thanks!”
“I liked learning about how to problem-solve marijuana issues with the case studies.”
“This class really made me think! We still have plenty of r.e. related-marijuana issues without clear black and white answers. What I got out of the class was a framework for helping me problem-solve.”
“Thanks for helping me understand how important the banking side is to legitimizing the rec marijuana businesses.”
“the reason why I enjoyed this class was the group discussions, which helped me understand, in a way I had not understood before I took this class, the level of passion people have either for or against the legalization of marijuana, and how understanding my own bias will help me serve my clients better.”
“Knowledgeable instructor who provided a very diversified approach to a potentially contentious subject. Excellent explanations on why we are so conflicted about the subject of marijuana. I highly recommend this course.”All Scheduled Classes