FORM 4UNITED 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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Expires:February 28, 2011
Estimated average burden
hours per response0.5
  
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*
JAFFE JONATHAN M
(Last)(First)(Middle)
LENNAR CORPORATION, 700 NW 107TH AVENUE SUITE 400
(Street)
MIAMIFL33172
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Vice President/COO
3. Date of Earliest Transaction (Month/Day/Year)
07/23/2008
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Class A Common Stock         160,209 D  
Class A Common Stock         459,675 I See (1)
Class B Common Stock         49,893 I See (2)

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 Security3. 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option (Right to Buy) $ 8.25       02/07/200402/07/2010 Class A Common Stock 5,998   5,998 D  
Stock Option (Right to Buy) $ 18.32       03/06/200503/06/2011 Class A Common Stock 20,000   20,000 D  
Stock Option (Right to Buy) $ 26.32       01/25/200601/25/2012 Class A Common Stock 4,000   4,000 D  
Stock Option (Right to Buy) $ 46.42       12/17/200412/17/2008 Class A Common Stock 150,000   150,000 D  
Stock Option (Right to Buy) $ 55       12/16/2005(3)12/16/2009 Class A Common Stock 100,000   100,000 D  
Stock Option (Right to Buy) $ 62.675       01/05/2007(3)01/05/2011 Class A Common Stock 100,000   100,000 D  
Stock Option (Right to Buy) $ 13.54 07/23/2008 A  500,000  07/23/2009(4)07/23/2013 Class A Common Stock 500,000 $ 0 500,000 D  
Stock Option (Right to Acquire) $ 0       02/07/200402/07/2010 Class B Common Stock 599 (5)   599 D  
Stock Option (Right to Acquire) $ 0       03/06/200503/06/2011 Class B Common Stock 2,000 (5)   2,000 D  
Stock Option (Right to Acquire) $ 0       01/25/200601/25/2012 Class B Common Stock 400 (5)   400 D  
Explanation of Responses:
1. 442,243 shares are held in a family trust, 15,000 shares are held through a financial intermediary, 2,407 shares are held through an ESOP trust and 25 shares are owned my Mr. Jaffe's son of which Mr. Jaffe disclaims beneficial ownership.
2. 48,151 shares are held in a family trust, 1,500 shares are held through a financial intermediary and 242 shares are held through an ESOP trust.
3. These stock options 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.
4. These stock options become exercisable in installments of 25% on each of the first four anniversaries of the grant date.
5. Represents shares of Class B Common Stock to be issued upon the exercise of certain options to purchase Class A Common Stock.
Mark Sustana as Attorney-In-Fact for Jonathan M. Jaffe07/25/2008
** Signature of Reporting PersonDate
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.



 
Related Symbols           
LENRatingOverviewRatiosCompetitorsEarnings EstimatesSales EstimatesAnalyst RatingsTechnicalsRelated StoriesChart
LEN.BRatingOverviewRatiosCompetitorsEarnings EstimatesSales EstimatesAnalyst RatingsTechnicalsRelated StoriesChart