SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GROSS BRUCE E

(Last)

(First)

(Middle)

700 NW 107TH AVENUE

SUITE 400

(Street)

MIAMI

33172

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LENNAR CORP /NEW/ [ LEN,LEN.B ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President/CFO

3. Date of Earliest Transaction (Month/Day/Year)
10/28/2008

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock								314,328	D
Class A Common Stock								5,211	I	By Trust
Class B Common Stock	10/28/2008		P		2,229	A	$3.41	74,562	D
Class B Common Stock	10/28/2008		P		1,000	A	$3.4	75,562	D
Class B Common Stock	10/28/2008		P		400	A	$3.36	75,962	D
Class B Common Stock	10/28/2008		P		100	A	$3.35	76,062	D
Class B Common Stock	10/28/2008		P		240	A	$3.34	76,302	D
Class B Common Stock	10/28/2008		P		2,931	A	$3.3	79,233	D
Class B Common Stock	10/28/2008		P		100	A	$3.29	79,333	D
Class B Common Stock	10/28/2008		P		100	A	$3.28	79,433	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$18.32							03/06/2005	03/06/2011	Class A Common Stock	11,498		11,498	D
Stock Option (Right to Buy)	$26.32							01/25/2006	01/25/2012	Class A Common Stock	18,000		18,000	D
Stock Option (Right to Buy)	$46.42							12/17/2004⁽¹⁾	12/17/2008	Class A Common Stock	100,000		100,000	D
Stock Option (Right to Buy)	$55							12/16/2005⁽¹⁾	12/16/2009	Class A Common Stock	50,000		50,000	D
Stock Option (Right to Buy)	$62.675							01/05/2007⁽¹⁾	01/05/2011	Class A Common Stock	50,000		50,000	D
Stock Option (Right to Buy)	$13.54							07/23/2009⁽²⁾	07/23/2013	Class A Common Stock	250,000		250,000	D
Stock Option (Right to Acquire)	$0							03/06/2005	03/06/2011	Class B Common Stock	1,149⁽³⁾		1,149	D
Stock Option (Right to Acquire)	$0							01/25/2006	01/25/2012	Class B Common Stock	1,800⁽³⁾		1,800	D

Explanation of Responses:

1. Stock options granted become exercisable in four annual installments. 10% of the stock options become exercisable on the first anniversary of the grant date and 30% of the stock options become exercisable on each of the next three anniversaries of the grant date.

2. These stock options become exercisable in installments of 25% on each of the first four anniversaries of the grant date.

3. Represents shares of Class B Common Stock to be issued upon the exercise of certain options to purchase Class A Common Stock

	Bruce E. Gross	10/28/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.