Commentary on Sections Part 2: Licensing of Houses in Multiple Occupation Section 28: Change of ownership: effect on licence
Section 28 outlines the effect to an HMO licence if there is a change or transfer of ownership of the property.  In these situations, if the new owner applies for a licence before the change of ownership takes effect, the licence which is already in effect in respect of the HMO is to be treated as being held by the new owner until such time as their application is accepted or ultimately rejected.