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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 117365
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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My company holds multiple licenses to grow, buy and sell

Customer Question

My company holds multiple licenses to grow, buy and sell marijuana legally in the state of washington and for the last two years one of our licenses has gone unused, as we've decided to focus on one section of the market. The unused section of my marijuana license can be sold for a large amount of money, and I have a buyer that I'm coordinating a sale with. I generally trust the buyer but he's willing to sign any kind of contract I bring to him. I need to move the license to the buyer, but he's only going to be giving me a small amount of cash up front and the rest within the next 12 months. What type of legal template will I need for the contract we sign to ensure that I have a legal recourse if my buyer is unable to finish paying me off within a year.
Submitted: 1 year ago.
Category: Legal
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
This is going to have to be a contract drafted from scratch I am afraid as there are no real templates available for this. I would also consider not transferring your license to him until it is paid for in full, meaning your contract with him would be to make him part of your operation and allow him to operate under your license until such time he pays off total due and you will then facilitate the transfer. That is the only way you can maintain control over him, like a lien on a building, to make sure he pays or you take away the license from him.