Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Collins David M
   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)
Controller
(Last)
(First)
(Middle)
700 NW 107TH AVE, SUITE 400		 3. Date of Earliest Transaction (Month/Day/Year)
01/13/2011
(Street)

MIAMI, FL 33172		 4. If Amendment, Date 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
(City)
(State)
(Zip)
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)
Code V Amount (A) or (D) Price
Class A Common Stock 01/13/2011   M   2,100 A $ 18.32 75,960 D  
Class A Common Stock 01/13/2011   S   2,100 D $ 20.16 73,860 D  
Class A Common Stock 01/18/2011   F   1,854 (1) D $ 20.63 72,006 D  
Class B Common Stock 01/13/2011   M   210 A $ 0 (2) 1,209 D  

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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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 18.32 01/13/2011   M     2,100 03/06/2005 03/06/2011 Class A Common Stock 2,100 $ 0 0 D  
Stock Option (Right to Buy) $ 26.32             01/25/2006 01/25/2012 Class A Common Stock 4,200   4,200 D  
Stock Option (Right to Buy) $ 62.675             01/05/2007 01/05/2011 Class A Common Stock 7,500   7,500 D  
Stock Option (Right to Buy) $ 13.54             07/23/2009(3) 07/23/2013 Class A Common Stock 25,000   25,000 D  
Stock Option (Right to Acquire) $ 0 01/13/2011   M     210 03/06/2005 03/06/2011 Class B Common Stock 210 $ 0 (2) 0 D  
Stock Option (Right to Acquire) $ 0             01/25/2006 01/25/2012 Class B Common Stock 420 (4)   420 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Collins David M
700 NW 107TH AVE
SUITE 400
MIAMI, FL 33172		       Controller  

Signatures

 David M. Collins   01/18/2011
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Surrendered shares to pay tax liability on vesting restricted stock pursuant to a 10b5-1 plan.
(2) The Class B Common Stock was issued as a result of anti-dilution provisions with regard to certain exercises of options that relate to Class A Common Stock.
(3) These stock options become exercisable in installments of 25% on each of the first four anniversaries of the grant date.
(4) Represents shares of Class B Common Stock to be issued upon the exercise of certain options to purchase Class A Common Stock.

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