The impacts of the marijuana industry in Colorado into the real estate field have been numerous and often unexpected. The overall market impact is a land rush for readily available commercial real estate in metropolitan areas, specifically Denver.
As marijuana becomes legal in more parts of the country, those in the real-estate industry are finding the new laws have implications for properties of every variety, from residential to industrial to retail. Some of the issues pertain to the growing and processing of the plants; others pertain to the use of it in a rental property or one governed by a homeowner’s association. There are also some things that home buyers need to be aware of, to ensure they know what they’re purchasing.
There is also a danger of civil asset forfeiture. Whether you are the owner of a shopping center where a dispensary wants to open; or you own an industrial property where marijuana could be grown; or you are a landlord renting an apartment to someone who uses or grows marijuana, there is at least some realistic fear of civil asset forfeiture.
Additional concerns involve proper zoning of properties and the process through which individuals can verify this, proper drafting and structure of lease, relationships with "cannabrokers," and the issue of regulatory takings of businesses in relation to newly enacted state laws, state regulations, and local rules/ordinances concerning the emerging and very profitable commercial cannabis industry in Colorado.
Hoban Law Group, LLC
Managing Partner
bob@hoban.law
(303) 674-7000
Bob Hoban is an AV® Preeminent™ rated attorney and seasoned full-service commercial practitioner. Drawing upon more than twenty years of diverse legal and practical entrepreneurial business experience, he regularly counsels clients regarding corporate organizational and governance issues, general commercial transactions, real estate development/transactions, government/regulatory licensing, strategic acquisitions, and commercial litigation. Today, Bob concentrates his practice in the areas of commercial litigation, business law, cannabis law, real estate, land use/eminent domain, public policy/governmental relations, and appellate matters. He represents business owners, governmental entities, retail/commercial centers, landowners, developers, landlords/tenants and other entities in all aspects of these practice areas. Bob is recognized as one of the leading commercial cannabis practitioners nationwide; representing private and publicly-held clients in numerous states and abroad. He has litigated nearly every aspect of Colorado’s Marijuana Code and has closed well-over 200 marijuana-related business transactions. Commercial marijuana and industrial hemp-based business operations, related litigation and regulatory representation are a specialty. He is very passionate about protecting the rights of property owners facing the threat of eminent domain or other land use matters. In 2006, he helped co-found the Colorado Property Rights Coalition, a non-profit property owner resource [www.thecprc.org]. He is a leading eminent domain practitioner statewide and has successfully represented landowners, developers and other private parties in all aspects of the eminent domain process; including but not limited to due diligence, contracting and land acquisition. Bob has vast experience involving relocation and reestablishment issues arising from eminent domain acquisitions. Furthermore, Bob is devoted to impacting law at its source; he has drafted more than 30 bills for the Colorado General Assembly in policy areas relating to eminent domain, land use, hemp/marijuana and transportation policy. Bob is also involved in numerous renewable energy projects in the areas of regulatory compliance, business structuring, and land acquisition. As the General Counsel to Waunita Power Company, LLC and Pagosa Verde, LLC (both are Colorado-based geothermal power projects [www.waunitapower.com and www.pagosaverde.com]), Bob has honed his expertise in these aspects of alternative energy law. Bob is a professor at the University of Denver, in the Law and Society Program, and regularly instructs regarding government regulations, public policy advocacy, and various research-based policy courses. He has completed a number of hours toward his PhD at the University of Colorado Graduate School of Public Affairs. Bob is a regular presenter/lecturer at legal, policy and academic conferences around the country. - See more at: http://www.hobanandfeola.com/firm-overview/attorneys/robert-t-hoban/#sthash.TUtMiicu.dpuf
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