EX-5.2 3 tols2asr2015exh52.htm EXHIBIT 5.2 TOLs2asr2015Exh5.2

Exhibit 5.2
[Company Letterhead]

JOHN K. MCDONALD, ESQUIRE     DIRECT DIAL: (215) 938-8295
SENIOR VICE PRESIDENT AND GENERAL COUNSEL    FAX: (215) 938-8255

February 12, 2015

Toll Brothers, Inc.
250 Gibraltar Road
Horsham, PA 19044

Ladies and Gentlemen:

I am Senior Vice President, Chief Compliance Officer and General Counsel of Toll Brothers, Inc., a Delaware corporation (the “Company”). The Company, Toll Corp., a Delaware corporation, First Huntingdon Finance Corp., a Delaware corporation (“FHFC”), Toll Brothers Finance Corp., a Delaware corporation (“TBFC” and, together with Toll Corp. and FHFC, the “Debt Issuers”) and the certain other subsidiaries of the Company listed on Schedule I hereto (such subsidiaries, together with the Debt Issuers, the “Subsidiary Registrants”) have filed a Registration Statement on Form S-3 (the “Registration Statement”) with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”), relating to the registration under the Securities Act and the proposed issuance and sale from time to time pursuant to Rule 415 under the Securities Act of: (i) shares of common stock of the Company, $.01 par value per share (“Common Stock”); (ii) shares of preferred stock of the Company, $.01 par value per share (“Preferred Stock”); (iii) senior secured debt securities and senior unsecured debt securities of the Debt Issuers (the “Senior Debt Securities”) to be issued under an indenture (the “Senior Indenture”), a form of which is filed with the Registration Statement, and senior subordinated debt securities and junior subordinated debt securities of the Debt Issuers (the “Subordinated Debt Securities”) to be issued under an indenture (the “Subordinated Indenture”), a form of which is filed with the Registration Statement; (iv) warrants to purchase Common Stock, Preferred Stock, and Debt Securities; (v) guarantees of the Company and the Subsidiary Registrants to be issued in connection with the Debt Securities (the “Guarantees”).

I have examined the Registration Statement as it became effective under the Securities Act; the related Prospectus dated February 11, 2015; the Senior Indenture; the Subordinated Indenture; the Senior Debt Securities in the form included in the Senior Indenture; the Subordinated Debt Securities in the form included in the Subordinated Indenture; the terms of the Guarantees as contained in the Senior Indenture and the Subordinated Indenture.

In rendering the opinions contained herein, I have relied upon my examination or the examination by members of our legal staff of the original or copies certified or otherwise identified to our satisfaction of the charter, bylaws or other governing documents of the Company and the Subsidiary Registrants, resolutions and written consents of their respective boards of directors, general partners, managers and managing members, as the case may be, statements and certificates from officers of the Subsidiary Registrants, and such other documents and records relating to the Subsidiary Registrants as we have deemed appropriate. I, or a member of my staff, have also examined the originals, or duplicates or certified or conformed copies, of such corporate and other records, agreements, documents and other instruments of the Company and the Subs



idiary Registrants and have made such other investigations as I have deemed relevant and necessary in connection with the opinions hereinafter set forth. As to questions of fact material to this opinion, I have relied upon certificates or comparable documents or statements of public officials and of officers and representatives of the Company and the Subsidiary Registrants.

In rendering the opinions set forth below, I have also assumed the genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents submitted to me as originals, the conformity to original documents of all documents submitted to me as duplicates or certified or conformed copies and the authenticity of the originals of such latter documents.

Based upon the foregoing, and subject to the qualifications, assumptions and limitations stated herein, I am of the opinion as follows:

1.The Company and each Subsidiary Registrant is a corporation, limited liability company or limited partnership, as applicable, validly existing and in good standing under the laws of the state in which it is incorporated or organized, as set forth in Schedule I hereto.

2.The Company and each Subsidiary Registrant has all necessary corporate, limited liability company or partnership power and authority to execute and deliver and to perform its obligations under the Senior Indenture and the Subordinated Indenture.

3.The Company and each Subsidiary Registrant has taken all necessary corporate or partnership action to duly authorize the execution, delivery and performance of the Senior Indenture and the Subordinated Indenture.
    
This opinion letter is limited to the matters expressly set forth above and is given only as of the date hereof. I assume no obligation to update or supplement this opinion letter to reflect any facts or circumstances that may hereafter come to my attention or any change in laws that may hereafter occur.

I hereby consent to the use of this opinion for filing with the Registration Statement as Exhibit 5.2 thereto. In giving this consent, I do not hereby admit that I am within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder. Cravath, Swaine & Moore LLP, legal counsel to the Company and the Subsidiary Registrants, may rely upon this opinion with respect to matters set forth herein for purposes of its opinion being delivered and filed as Exhibit 5.1 to the Registration Statement.

[Remainder of this page intentionally left blank]






Very truly yours,



/s/ JOHN K. McDONALD





Schedule I

Entity Name
 
State of Incorporation or Organization
110-112 Third Ave. Realty Corp.
 
New York
Amwell Chase, Inc.
 
Delaware
ESE Consultants, Inc.
 
Delaware
Fairway Valley, Inc.
 
Delaware
First Brandywine Investment Corp. II
 
Delaware
First Brandywine Investment Corp. IV
 
Delaware
Franklin Farms G.P., Inc.
 
Delaware
HQZ Acquisitions, Inc.
 
Michigan
MA Limited Land Corporation
 
Delaware
PRD Investors, Inc.
 
Delaware
SH Homes Corporation
 
Michigan
Shapell Homes, Inc.
 
Delaware
Shapell Industries, Inc.
 
Delaware
SI Investment Corporation
 
Michigan
TB Proprietary Corp.
 
Delaware
Tenby Hunt, Inc.
 
Delaware
The Silverman Building Companies, Inc.
 
Michigan
Toll Architecture I, P.A.
 
Delaware
Toll Architecture, Inc.
 
Delaware
Toll AZ GP Corp.
 
Delaware
Toll Bros. of Arizona, Inc.
 
Arizona
Toll Bros. of North Carolina, Inc.
 
North Carolina
Toll Bros. of North Carolina II, Inc.
 
North Carolina
Toll Bros. of North Carolina III, Inc.
 
North Carolina
Toll Bros., Inc.
 
Delaware
Toll Bros., Inc.
 
Pennsylvania
Toll Bros., Inc.
 
Texas
Toll Brothers AZ Construction Company
 
Arizona
Toll Brothers Real Estate, Inc.
 
Pennsylvania
Toll Buckeye Corp.
 
Delaware
Toll CA GP Corp.
 
California
Toll CA Holdings, Inc.
 
Delaware
Toll Centennial Corp.
 
Delaware
Toll CO GP Corp.
 
Colorado
Toll Development Company, Inc.
 
Michigan



Toll Diamond Corp.
 
Delaware
Toll FL GP Corp.
 
Florida
Toll GA GP Corp.
 
Georgia
Toll Golden Corp.
 
Delaware
Toll Granite Corp.
 
Delaware
Toll Holdings, Inc.
 
Delaware
Toll IL GP Corp.
 
Illinois
Toll Land Corp. No. 6
 
Pennsylvania
Toll Land Corp. No. 10
 
Delaware
Toll Land Corp. No. 20
 
Delaware
Toll Land Corp. No. 43
 
Delaware
Toll Land Corp. No. 50
 
Delaware
Toll MD Builder Corp.
 
Maryland
Toll MI GP Corp.
 
Michigan
Toll Mid-Atlantic LP Company, Inc.
 
Delaware
Toll Mid-Atlantic Note Company, Inc.
 
Delaware
Toll Midwest Note Company, Inc.
 
Delaware
Toll MN GP Corp.
 
Minnesota
Toll NC GP Corp.
 
North Carolina
Toll NH GP Corp.
 
New Hampshire
Toll NJX-I Corp.
 
Delaware
Toll Northeast LP Company, Inc.
 
Delaware
Toll Northeast Note Company, Inc.
 
Delaware
Toll Northeast Services, Inc.
 
Delaware
Toll NV GP Corp.
 
Nevada
Toll OH GP Corp.
 
Ohio
Toll PA Builder Corp.
 
Pennsylvania
Toll PA GP Corp.
 
Pennsylvania
Toll PA II GP Corp.
 
Pennsylvania
Toll PA III GP Corp.
 
Pennsylvania
Toll Palmetto Corp.
 
Delaware
Toll Peppertree, Inc.
 
New York
Toll Realty Holdings Corp. I
 
Delaware
Toll Realty Holdings Corp. II
 
Delaware
Toll RI GP Corp.
 
Rhode Island
Toll SC GP Corp.
 
South Carolina
Toll Southeast LP Company, Inc.
 
Delaware
Toll Southeast Note Company, Inc.
 
Delaware
Toll Southwest Note Company, Inc.
 
Delaware



Toll SW Holding I Corp.
 
Nevada
Toll TN GP Corp.
 
Tennessee
Toll TX GP Corp.
 
Delaware
Toll VA GP Corp.
 
Delaware
Toll VA Member Two, Inc.
 
Delaware
Toll WA GP Corp
 
Washington
Toll WestCoast Note Company, Inc.
 
Delaware
Toll WV GP Corp.
 
West Virginia
Toll YL, Inc.
 
California
Upper K Investors, Inc.
 
Delaware
51 N. 8th Street L.P.
 
New York
Ashford Land Company, L.P.
 
Delaware
Audubon Ridge, L.P.
 
Pennsylvania
Belmont Land, L.P.
 
Virginia
Binks Estates Limited Partnership
 
Florida
Blue Bell Country Club, L.P.
 
Pennsylvania
Broad Run Associates, L.P.
 
Pennsylvania
CC Estates Limited Partnership
 
Massachusetts
Cold Spring Hunt, L.P.
 
Pennsylvania
Coleman-Toll Limited Partnership
 
Nevada
Dominion Country Club, L.P.
 
Virginia
Estates at Princeton Junction, L.P.
 
New Jersey
Estates at Rivers Edge, L.P.
 
New Jersey
Fairfax Investment, L.P.
 
Virginia
Farmwell Hunt, L.P.
 
Virginia
First Brandywine Partners, L.P.
 
Delaware
Great Falls Hunt, L.P.
 
Virginia
Greens at Waynesborough, L.P.
 
Pennsylvania
Greenwich Chase, L.P.
 
New Jersey
Hoboken Land LP
 
New Jersey
Hockessin Chase, L.P.
 
Delaware
Huckins Farm Limited Partnership
 
Massachusetts
Laurel Creek, L.P.
 
New Jersey
Loudoun Valley Associates, L.P.
 
Virginia
NC Country Club Estates Limited Partnership
 
North Carolina
Porter Ranch Development Co.
 
California
Silverman-Toll Limited Partnership
 
Michigan
Sorrento at Dublin Ranch I LP
 
California
Sorrento at Dublin Ranch III LP
 
California



South Riding, L.P.
 
Virginia
South Riding Amberlea LP
 
Virginia
South Riding Partners Amberlea LP
 
Virginia
South Riding Partners, L.P.
 
Virginia
Southport Landing Limited Partnership
 
Connecticut
Springton Pointe, L.P.
 
Pennsylvania
Stone Mill Estates, L.P.
 
Pennsylvania
Swedesford Chase, L.P.
 
Pennsylvania
TBI/Naples Limited Partnership
 
Florida
TBI/Palm Beach Limited Partnership
 
Florida
The Bird Estate Limited Partnership
 
Massachusetts
Toll at Brier Creek Limited Partnership
 
North Carolina
Toll at Honey Creek Limited Partnership
 
Michigan
Toll at Westlake, L.P.
 
New Jersey
Toll at Whippoorwill, L.P.
 
New York
Toll Brooklyn L.P.
 
New York
Toll Brothers AZ Limited Partnership
 
Arizona
Toll CA, L.P.
 
California
Toll CA II, L.P.
 
California
Toll CA III, L.P.
 
California
Toll CA IV, L.P.
 
California
Toll CA V, L.P.
 
California
Toll CA VI, L.P.
 
California
Toll CA VII, L.P.
 
California
Toll CA VIII, L.P.
 
California
Toll CA IX, L.P.
 
California
Toll CA X, L.P.
 
California
Toll CA XI, L.P.
 
California
Toll CA XII, L.P.
 
California
Toll CA XIX, L.P.
 
California
Toll CO, L.P.
 
Colorado
Toll CO II, L.P.
 
Colorado
Toll CO III, L.P.
 
Colorado
Toll CT Limited Partnership
 
Connecticut
Toll CT II Limited Partnership
 
Connecticut
Toll CT III Limited Partnership
 
Connecticut
Toll CT IV Limited Partnership
 
Connecticut
Toll DE LP
 
Delaware
Toll DE II LP
 
Delaware



Toll Estero Limited Partnership
 
Florida
Toll FL Limited Partnership
 
Florida
Toll FL II Limited Partnership
 
Florida
Toll FL III Limited Partnership
 
Florida
Toll FL IV Limited Partnership
 
Florida
Toll FL V Limited Partnership
 
Florida
Toll FL VI Limited Partnership
 
Florida
Toll FL VII Limited Partnership
 
Florida
Toll FL VIII Limited Partnership
 
Florida
Toll FL X Limited Partnership
 
Florida
Toll FL XII Limited Partnership
 
Florida
Toll FL XIII Limited Partnership
 
Florida
Toll Ft. Myers Limited Partnership
 
Florida
Toll GA LP
 
Georgia
Toll Grove LP
 
New Jersey
Toll Hudson LP
 
New Jersey
Toll IL HWCC, L.P.
 
Illinois
Toll IL, L.P.
 
Illinois
Toll IL II, L.P.
 
Illinois
Toll IL III, L.P.
 
Illinois
Toll IL IV, L.P.
 
Illinois
Toll IL WSB, L.P.
 
Illinois
Toll Jacksonville Limited Partnership
 
Florida
Toll Land IV Limited Partnership
 
New Jersey
Toll Land V Limited Partnership
 
New York
Toll Land VI Limited Partnership
 
New York
Toll Land IX Limited Partnership
 
Virginia
Toll Land X Limited Partnership
 
Virginia
Toll Land XI Limited Partnership
 
New Jersey
Toll Land XV Limited Partnership
 
Virginia
Toll Land XVI Limited Partnership
 
New Jersey
Toll Land XVIII Limited Partnership
 
Connecticut
Toll Land XIX Limited Partnership
 
California
Toll Land XX Limited Partnership
 
California
Toll Land XXI Limited Partnership
 
Virginia
Toll Land XXII Limited Partnership
 
California
Toll Land XXIII Limited Partnership
 
California
Toll Land XIV Limited Partnership
 
New York
Toll Land XXV Limited Partnership
 
New Jersey



Toll Land XXVI Limited Partnership
 
Ohio
Toll Livingston at Naples Limited Partnership
 
Florida
Toll MA Land Limited Partnership
 
Massachusetts
Toll MD AF Limited Partnership
 
Maryland
Toll MD Builder I, L.P.
 
Maryland
Toll MD Limited Partnership
 
Maryland
Toll MD II Limited Partnership
 
Maryland
Toll MD III Limited Partnership
 
Maryland
Toll MD IV Limited Partnership
 
Maryland
Toll MD V Limited Partnership
 
Maryland
Toll MD VI Limited Partnership
 
Maryland
Toll MD VII Limited Partnership
 
Maryland
Toll MD VIII Limited Partnership
 
Maryland
Toll MD IX Limited Partnership
 
Maryland
Toll MD X Limited Partnership
 
Maryland
Toll MD XI Limited Partnership
 
Maryland
Toll MI Limited Partnership
 
Michigan
Toll MI II Limited Partnership
 
Michigan
Toll MI III Limited Partnership
 
Michigan
Toll MI IV Limited Partnership
 
Michigan
Toll MI V Limited Partnership
 
Michigan
Toll MI VI Limited Partnership
 
Michigan
Toll MN, L.P.
 
Minnesota
Toll MN II, L.P.
 
Minnesota
Toll Naval Associates
 
Pennsylvania
Toll NC, L.P.
 
North Carolina
Toll NC II LP
 
North Carolina
Toll NC III LP
 
North Carolina
Toll NH Limited Partnership
 
New Hampshire
Toll NJ Builder I, L.P.
 
New Jersey
Toll NJ, L.P.
 
New Jersey
Toll NJ II, L.P.
 
New Jersey
Toll NJ III, L.P.
 
New Jersey
Toll NJ IV, L.P.
 
New Jersey
Toll NJ V, L.P.
 
New Jersey
Toll NJ VI, L.P.
 
New Jersey
Toll NJ VII, L.P.
 
New Jersey
Toll NJ VIII, L.P.
 
New Jersey
Toll NJ XI, L.P.
 
New Jersey



Toll NJ XII LP
 
New Jersey
Toll Northville Limited Partnership
 
Michigan
Toll NV Limited Partnership
 
Nevada
Toll NY LP
 
New York
Toll NY III L.P.
 
New York
Toll NY IV L.P.
 
New York
Toll Orlando Limited Partnership
 
Florida
Toll PA, L.P.
 
Pennsylvania
Toll PA II, L.P.
 
Pennsylvania
Toll PA III, L.P.
 
Pennsylvania
Toll PA IV, L.P.
 
Pennsylvania
Toll PA V, L.P.
 
Pennsylvania
Toll PA VI, L.P.
 
Pennsylvania
Toll PA VIII, L.P.
 
Pennsylvania
Toll PA IX, L.P.
 
Pennsylvania
 
Toll PA X, L.P.
 
Pennsylvania
 
Toll PA XI, L.P.
 
Pennsylvania
 
Toll PA XII, L.P.
 
Pennsylvania
 
Toll PA XIII, L.P.
 
Pennsylvania
 
Toll PA XIV, L.P.
 
Pennsylvania
 
Toll PA XV, L.P.
 
Pennsylvania
 
Toll PA XVI, L.P.
 
Pennsylvania
 
Toll PA XVII, L.P.
 
Pennsylvania
 
Toll PA XVIII, L.P.
 
Pennsylvania
 
Toll PA XIX, L.P.
 
Pennsylvania
 
Toll Realty Holdings LP
 
Delaware
 
Toll RI, L.P.
 
Rhode Island
 
Toll RI II, L.P.
 
Rhode Island
 
Toll SC, L.P.
 
South Carolina
 
Toll SC II, L.P.
 
South Carolina
 
Toll SC III, L.P.
 
South Carolina
 
Toll SC IV, L.P.
 
South Carolina
 
Toll Stonebrae LP
 
California
 
Toll VA, L.P.
 
Virginia
 
Toll VA II, L.P.
 
Virginia
 
Toll VA III, L.P.
 
Virginia
 
Toll VA IV, L.P.
 
Virginia
 
Toll VA V, L.P.
 
Virginia
 
Toll VA VI, L.P.
 
Virginia
 



Toll VA VII, L.P.
 
Virginia
 
Toll VA VIII, L.P.
 
Virginia
 
Toll WA LP
 
Washington
 
Toll WV LP
 
West Virginia
 
Toll YL, L.P.
 
California
 
Toll YL II, L.P.
 
California
 
Toll-Dublin, L.P.
 
California
 
Village Partners, L.P.
 
Pennsylvania
 
West Amwell Limited Partnership
 
New Jersey
 
Wilson Concord, L.P.
 
Tennessee
 
89 Park Avenue LLC
 
New York
 
110-112 Third Ave. GC II LLC
 
New York
 
110-112 Third Ave. GC LLC
 
New York
 
126-142 Morgan Street Urban Renewal LLC
 
New Jersey
 
134 Bay Street LLC
 
Delaware
 
1400 Hudson LLC
 
New Jersey
 
1450 Washington LLC
 
New Jersey
 
1500 Garden St. LLC
 
New Jersey
 
2301 Fallston Road LLC
 
Maryland
 
353-357 Broadway LLC
 
New York
 
353-357 Broadway Member LLC
 
New York
 
5-01 - 5-17 48th Avenue GC II LLC
 
New York
 
5-01 - 5-17 48th Avenue GC LLC
 
New York
 
5-01 - 5-17 48th Avenue II LLC
 
New York
 
5-01 - 5-17 48th Avenue LLC
 
New York
 
51 N. 8th Street GC LLC
 
New York
 
51 N. 8th Street GC II LLC
 
New York
 
51 N. 8th Street I LLC
 
New York
700 Grove Street Urban Renewal, LLC
 
New Jersey
Arbor Hills Development LLC
 
Michigan
Arbors Porter Ranch, LLC
 
California
Arthur’s Woods, LLC
 
Maryland
Belmont Country Club I LLC
 
Virginia
Belmont Country Club II LLC
 
Virginia
Block 255 LLC
 
New Jersey
Brier Creek Country Club I LLC
 
North Carolina
Brier Creek Country Club II LLC
 
North Carolina
C.B.A.Z. Construction Company LLC
 
Arizona
C.B.A.Z. Holding Company LLC
 
Delaware



Component Systems I LLC
 
Delaware
Component Systems II LLC
 
Delaware
CWG Construction Company LLC
 
New Jersey
Dominion Valley Country Club I LLC
 
Virginia
Dominion Valley Country Club II LLC
 
Virginia
Enclave at Long Valley I LLC
 
New Jersey
Enclave at Long Valley II LLC
 
New Jersey
First Brandywine LLC I
 
Delaware
First Brandywine LLC II
 
Delaware
First Brandywine LLC III
 
Delaware
First Brandywine LLC IV
 
Delaware
Frenchman’s Reserve Realty, LLC
 
Florida
Golf I Country Club Estates at Moorpark LLC
 
California
Golf II Country Club Estates at Moorpark LLC
 
California
Goshen Road Land Company LLC
 
Pennsylvania
Hatboro Road Associates LLC
 
Pennsylvania
Hawthorn Woods Country Club II LLC
 
Illinois
Hoboken Cove LLC
 
New Jersey
Hoboken Land I LLC
 
Delaware
Jacksonville TBI Realty LLC
 
Florida
Liseter Land Company LLC
 
Pennsylvania
Liseter, LLC
 
Delaware
Lighthouse Point Land Company, LLC
 
Florida
Long Meadows TBI, LLC
 
Maryland
Longmeadow Properties LLC
 
Maryland
Martinsburg Ventures, L.L.C.
 
Virginia
Mizner Realty, L.L.C.
 
Florida
Morgan Street JV LLC
 
Delaware
Naples TBI Realty, LLC
 
Florida
Orlando TBI Realty LLC
 
Florida
Placentia Development Company, LLC
 
California
Plum Canyon Master LLC
 
Delaware
PRD Investors, LLC
 
Delaware
Paramount Village LLC
 
California
Phillips Drive LLC
 
Maryland
Prince William Land I LLC
 
Virginia
Prince William Land II LLC
 
Virginia
PT Maxwell Holdings, LLC
 
New Jersey
Maxwell, L.L.C.
 
New Jersey



Rancho Costera LLC
 
Delaware
Regency at Denville LLC
 
New Jersey
Regency at Dominion Valley LLC
 
Virginia
Regency at Mansfield I LLC
 
New Jersey
Regency at Mansfield II LLC
 
New Jersey
Regency at Washington I LLC
 
New Jersey
Regency at Washington II LLC
 
New Jersey
Shapell Hold Properties No. 1, LLC
 
Delaware
Shapell Land Company, LLC
 
Delaware
South Riding Realty LLC
 
Virginia
SR Amberlea LLC
 
Virginia
SRLP II LLC
 
Virginia
Tampa TBI Realty LLC
 
Florida
TB Kent Partners LLC
 
Delaware
The Regency Golf Club I LLC
 
Virginia
The Regency Golf Club II LLC
 
Virginia
The Ridges at Belmont Country Club I LLC
 
Virginia
The Ridges at Belmont Country Club II LLC
 
Virginia
Toll Austin TX LLC
 
Texas
Toll Austin TX II LLC
 
Texas
Toll Austin TX III LLC
 
Texas
Toll BBC LLC
 
Texas
Toll BBC II LLC
 
Texas
Toll CA I LLC
 
California
Toll CA III LLC
 
California
Toll CA Note II LLC
 
California
Toll Cedar Hunt LLC
 
Virginia
Toll CO I LLC
 
Colorado
Toll Corners LLC
 
Delaware
Toll Dallas TX LLC
 
Texas
Toll EB, LLC
 
Delaware
Toll Equipment, L.L.C.
 
Delaware
Toll FL I, LLC
 
Florida
Toll FL IV LLC
 
Florida
Toll FL V LLC
 
Florida
Toll Glastonbury LLC
 
Connecticut
Toll Henderson LLC
 
Nevada
Toll Hoboken LLC
 
Delaware
Toll Houston TX LLC
 
Texas



Toll IN LLC
 
Indiana
Toll Jupiter LLC
 
Florida
Toll Land VII LLC
 
New York
Toll Lexington LLC
 
New York
Toll MA I LLC
 
Massachusetts
Toll MA II LLC
 
Massachusetts
Toll MA III LLC
 
Massachusetts
Toll MA IV LLC
 
Massachusetts
Toll MD I, L.L.C.
 
Maryland
Toll MD II LLC
 
Maryland
Toll MD III LLC
 
Maryland
Toll MD IV LLC
 
Maryland
Toll Midwest LLC
 
Delaware
Toll Morgan Street LLC
 
Delaware
Toll NC I LLC
 
North Carolina
Toll NC IV LLC
 
North Carolina
Toll NC Note LLC
 
North Carolina
Toll NC Note II LLC
 
North Carolina
Toll NJ I, L.L.C.
 
New Jersey
Toll NJ II, L.L.C.
 
New Jersey
Toll NJ III, LLC
 
New Jersey
Toll NY II LLC
 
New York
Toll North LV LLC
 
Nevada
Toll North Reno LLC
 
Nevada
Toll NV Holdings LLC
 
Nevada
Toll Realty L.L.C.
 
Florida
Toll San Antonio TX LLC
 
Texas
Toll South LV LLC
 
Nevada
Toll South Reno LLC
 
Nevada
Toll Southwest LLC
 
Delaware
Toll Stratford LLC
 
Virginia
Toll SW Holding LLC
 
Nevada
Toll TX Note LLC
 
Texas
Toll VA L.L.C.
 
Delaware
Toll VA III L.L.C.
 
Virginia
Toll Van Wyck, LLC
 
New York
Toll Vanderbilt I LLC
 
Rhode Island
Toll Vanderbilt II LLC
 
Rhode Island
Toll-Dublin, LLC
 
California



Toll West Coast LLC
 
Delaware
Upper K Investors, LLC
 
Delaware
Upper K-Shapell, LLC
 
Delaware
Vanderbilt Capital LLC
 
Rhode Island
Virginia Construction Co. I, LLC
 
Virginia
Virginia Construction Co. II, LLC
 
Virginia