<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0301</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0000804138</cik>
        <entityName>AMERICAN LAND LEASE INC</entityName>
        <issuerAddress>
            <street1>29399 U.S. HWY 19 NORTH</street1>
            <street2>SUITE 320</street2>
            <city>CLEARWATER</city>
            <stateOrCountry>FL</stateOrCountry>
            <zipCode>33761</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>727-726-8868</issuerPhoneNumber>
        <issuerPreviousNameList>
            <previousName>ASSET INVESTORS CORP</previousName>
            <previousName>MDC ASSET INVESTORS INC</previousName>
            <previousName>MDC MORTGAGE ASSET INVESTORS INC</previousName>
        </issuerPreviousNameList>
        <jurisdictionOfInc>DE</jurisdictionOfInc>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Randall</firstName>
                <middleName>K.</middleName>
                <lastName>Rowe</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>560 Oakwood Avenue, Ste 100</street1>
                <street2></street2>
                <city>Lake Forest</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60045</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <middleName>R.</middleName>
                <lastName>Goldman</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>560 Oakwood Avenue, Ste. 100</street1>
                <street2></street2>
                <city>Lake Forest</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60045</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>B.</middleName>
                <lastName>Lentz</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>560 Oakwood Avenue, Ste. 100</street1>
                <street2></street2>
                <city>Lake Forest</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60045</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Residential</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-04-10</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>150000</totalOfferingAmount>
            <totalAmountSold>104000</totalAmountSold>
            <totalRemaining>46000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>42</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>AMERICAN LAND LEASE INC</issuerName>
                <signatureName>Michael A. Tarkington</signatureName>
                <nameOfSigner>Michael A. Tarkington</nameOfSigner>
                <signatureTitle>Asst Treasurer/Asst Secretary</signatureTitle>
                <signatureDate>2009-05-05</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
