I've sold my property, how does the lease get updated for the new owner?

If you've sold your property, the existing lease is simply transferred onto the new owner.

The names are not formally changed on the original lease but the solicitor serves a notice of assignment to the freeholder confirming ownership has changed.

The current account is then shut down and a new one is set up.

Your solicitor will also register the change of ownership with the Land Registry.

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