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Thank you for the reply Betty. Sorry if I was a little unclear in my original post. I have already started a similar business on another property that I own a 100% interest of, so I am familiar with all of the other legal requirements. In that case I formed an LLC and got insured, etc...

I own a undivided 50% interest in a ranch in California. I've realized that I could start a small business bringing people to the property to go hiking and swimming. I could charge $50 per person as a day fee. Can I legally start this business? What are my obligations to the other owners...