Cannabis Properties

The industry has been significantly restricted by the increasing amount of proposed regulations. Regulation from all levels of government presents the greatest challenge to the medical and recreational marijuana industry. The Controlled Substances Act (CSA), passed as a part of the Comprehensive Drug Abuse Prevention and Control Act of 1970, classifies marijuana as a Schedule I controlled substance. Schedule I substances, such as heroin and MDMA, are deemed by the Federal government to have a high potential for abuse. Furthermore, prescriptions of such substances are illegal; in the case of marijuana, physicians can assign a right to visit a company or cooperative that provides medical marijuana. Despite the adoption of laws permitting some forms of marijuana consumption or distribution for medical and recreational use over the past two decades, the possession and distribution of marijuana remains illegal under Federal law. Consequently, many businesses operate with the risk of being shut down or experiencing a property seizure without notice. Also, industry operators cannot make standard deductions for business expenses and have difficulty securing standard bank accounts.