Method and system for managing address prefix information associated with handover in network. A fast handover process is achieved for point-to-point communication model. A mobile node send a provisional new care-of-address with an aggregate prefix part to its previous access router, which forwards the address to a new access router. The new access router in response generates a modified new care-of-address with a unique prefix part for the mobile node. Alternatively, the mobile node sends a request to the previous access router for a unique prefix. The request is forwarded from the previous access router to the new access router. The new access router assigns a unique prefix for the mobile node.