# Assignment

The legal transfer of a lease from one person to another, which is what happens when a leasehold flat is sold.

Also called: assignment of lease, notice of assignment, transfer.

When a flat is sold, the seller "assigns" the lease to the buyer. The lease usually sets out what has to happen for the company that runs the block.

## What leases commonly require

- **Notice of assignment** to the landlord or management company within a set time after completion (often one month), with a copy of the transfer and a registration fee.
- A [deed of covenant](https://runyourblock.co.uk/glossary/deed-of-covenant) from the buyer, in some leases.
- **Consent** before assigning, in some leases. If an RTM company handles the consent, it must give the landlord notice before granting it: 30 days for an assignment (s.98).

## What directors should update

The owner and their contact details, the **address for service** for notices, the flat's account (the seller's final balance and a fresh start for the buyer), membership of the company where the lease or articles provide for it, and any sale-pack questions the buyer's conveyancer asks.

## Related terms

- [Deed of covenant](https://runyourblock.co.uk/glossary/deed-of-covenant)
- [Administration charge](https://runyourblock.co.uk/glossary/administration-charge)
- [Leaseholder](https://runyourblock.co.uk/glossary/leaseholder)
- [Address for service (section 48)](https://runyourblock.co.uk/glossary/address-for-service)

## Sources

- [Commonhold and Leasehold Reform Act 2002, s.98 (functions relating to approvals)](https://www.legislation.gov.uk/ukpga/2002/15/section/98)
- [LEASE: free advice on leasehold law](https://www.lease-advice.org/)

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Updated 22 October 2026. Source: https://runyourblock.co.uk/glossary/assignment