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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (53320)	7/12/2006 7:47:17 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 116555

Although Lennar purchased US Home in 2000, Lennar continued operating the US Home subsidiary under the US Home name. But US Home was an integral part of Lennar after the merger in 2000. As of July 4, 2006 the US Home subsidiary is now operating under the Lennar name. To the best of my knowledge, all obligations of the old US Home are regular obligations of Lennar. I do not know if Lennar ever sets up a separate subsidiary for an individual development. Contracts determine if the home buyer is purchasing a home from Lennar or their "Heritage Bay at Collier" subsidiary (if such a company exists) but at the end of the day, this sort of structure would provide Lennar with no real protection against home owner building defect claims. .