Company: LEN
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118869
Chunk: 11

Company: LENNAR CORP /NEW/
Filing Date: 2025-05-13
Form: 424B5
Chunk 11
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, in effect, be junior to our
secured indebtedness to the extent of the value of the assets securing that indebtedness.

In the event of our bankruptcy, liquidation,
reorganization or other winding up, the holders of any secured debt would receive payments from the assets securing that debt before you receive any payments from sales of those assets. There may not be sufficient assets remaining after payment of
secured debt to pay all or any of the amounts due on the Notes that are then outstanding. The indenture governing the Notes does not prohibit us or our Restricted Subsidiaries (as defined below) from incurring additional liabilities. The indenture
governing the Notes does restrict us and our Restricted Subsidiaries from incurring debt that is secured by assets that do not secure the Notes (and, under the indentures relating to our other currently outstanding senior notes, those notes) on an
either an equal and ratable or a senior basis. However, this restriction includes certain exceptions that permit us and our subsidiaries to incur many types of secured debt without our being required to secure the Notes or our other senior notes.
The Notes will be effectively subordinated to that secured debt to the extent of the value of the assets securing it. See “Description of Notes—Certain Covenants.”

As of February 28, 2025, our subsidiaries had $1.63 billion of secured indebtedness. Accordingly, as of February 28, 2025, the
secured debt of our subsidiaries and the unsecured debt of our non-guarantor subsidiaries totaled $1.64 billion.

Federal and state fraudulent transfer laws may affect the enforceability of the guarantees of the Notes, which could impair your ability to receive payments with regard to the Notes.

Any time the subsidiary guarantees of the Notes are in effect, those guarantees, under
fraudulent conveyance laws, might be subordinated to existing or future indebtedness incurred by the guarantor subsidiaries, or might

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not be enforceable, if a court or a creditor’s representative, such as a bankruptcy trustee, concluded that those subsidiaries received less than fair consideration for the guarantees and:

| • |     | were rendered insolvent as a result of issuing the guarantees; |

| • |     | at the time they issued the guarantees, were engaged in a business or transaction for which the applicable 
 subsidiaries’ remaining assets constituted unreasonably small capital;                                     |

| • |     | at the time they issued the guarantees, intended to incur, or believed