What does 'License to Assign' mean?
License to Assign
When buying a leasehold property you need the permission of the freeholder to take possession. In most cases this is a formality but there are exceptions.
See The Property Buying Process in Theory for details.
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Chapter 17:
The Property Buying Process in Theory
"...License to Assign (Leasehold Only) - for most purchases this is a formality. It is a document from the managing agents or freeholder saying they accept you as the new leaseholder. There are some blocks, however, where you will have to provide character references, proof of your financial status and sometimes even attend for an interview. They are rare and, more often than not, in the upmarket apartments of Mayfair and Kensington.
..."
"... the freeholder if he has not appointed managing agents.
Ground Rent Receipts (Leasehold only): From the freeholder.
License to Assign (Leasehold only): From the freeholder.
Deeds of Variation (Leasehold and Share of Freehold only, where applicable): From the freeholder or the freehold..."
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