The EULA for Office Home & Student 2013 – Office 2013 is licensed only to the first device that it’s installed. Once installed & activated, Office 2013 could not be moved, even to another new computer owned by the customer. Instead, the customer would need to purchase another copy of Office 2013 for the new computer.
However, EULA for Office Home & Student 2010 states that “You may reassign the license to a different device any number of times, but not more than one time every 90 days”. “If you reassign, that other device becomes the ‘licensed device.’ If you retire the licensed device due to hardware failure, you may reassign the license sooner.”
To read the new EULAs, or compare them to those for Office 2010, you may use these direct links to download the PDFs: