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If it's the student version then I believe that you're allowed to use it (I think the rule is for one student and two other family members). If it's the standard edition then I think you'll need your own licence.
 
I believe for Office it is one desktop and one laptop owned by the same person and only one in use at any given time.

I'm trying to find the licence but that is proving extraordinarily difficult. I do know, however, that it comes with 3 serial numbers for use on 3 different computers.
 
I'm trying to find the licence but that is proving extraordinarily difficult. I do know, however, that it comes with 3 serial numbers for use on 3 different computers.

Actually, you are right. The student/teacher version allows for installation on up to 3 computers in the same household.
 
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