As you may know, alcohol licenses are often transferable in California. Think of the example where a buyer buys a restaurant from the seller. The buyer is likely counting on the fact that the alcohol license that the seller owns will be transferred to him in connection with the purchase of the restaurant. A license in this case is viewed as the personal property of the seller and is subject to transfer.
One might think that the same holds true for cannabis licenses, but in fact that is not the case. Cannabis licenses are specifically not transferable under current California law. Thankfully, for businesses that are already established, you may be entitled to a license on a priority basis under MAUCRSA (The Medicinal and Adult Use Cannabis Regulation and Safety Act).
However, if you are thinking of buying a cannabis business, or if you are thinking of moving your cannabis business, you must also consider the implications of what that means for your current license.
If you have questions about California cannabis licenses, or if you have questions about your cannabis business and what options are best for you, please reach out to an attorney at Weed Law, PC today.
This article includes information for purposes of compliance with California law. NOTE: Cannabis, including medical cannabis remains a Schedule I drug under the Federal Controlled Substances Act and is wholly illegal. Individuals and businesses interested in the cannabis industry should make sure they are fully informed of the Federal laws related to cannabis.