**SECURITIES        AND EXCHANGE COMMISSION**

**Washington,        D.C. 20549**

**FORM        10-Q**

|  [X]                                                                                              | **   QUARTERLY                  REPORT UNDER SECTION 13 OR 15(d)OF                  THE SECURITIES EXCHANGE ACT OF 1934**                    |
|--------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                   |
| For                  the quarter ended: **September 30, 2007**                                         |
|                                                                                                   |
| [   ]                                                                                   |    **TRANSITION                  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT                  OF                  1934** |
|                                                                                                   |
| For                  the transition period from ____________________ to                  _____________ |
| Commission                  file number                  __________________________                    |

| **LANDMARK                  LAND COMPANY, INC.**(Exact                  Name of Registrant as specified in its Charter)                                                                                                  |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| DELAWARE(State                  or Other Jurisdiction of Incorporation or Organization)                                                                                                                                  | 77-0024129(I.R.S.                  Employer Identification No.) |
|  2817                  Crain Highway, Upper Marlboro, Maryland(Address                  of Principal Executive Offices)                                                                                             |  20774(Zip                  Code) |
|  Registrant's                  Telephone Number, Including Area Code:  (301)                  574-3330                                                                                                    |
|  ______________________________________________________________________________________________(Former                  name, former address and former fiscal year, if changed since last                  report) |

| Large                  accelerated filer  [  ] | Accelerated                  filer [  ] | Non-accelerated                  filer [√] |
|--------------------------------------------------------------------|---------------------------------------------------|--------------------------------------------------|

**APPLICABLE        ONLY TO CORPORATE ISSUERS**

----

**Landmark        Land Company, Inc.**

**INDEX        TO QUARTERLY REPORT ON FORM 10-Q**

**QUARTER        ENDED SEPTEMBER 30, 2007**

|  **PART                  I** |  **FINANCIAL                  INFORMATION** | **Page                  Number**                                                                                                                                                                                   |
|-----------------------------------|--------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                              |                                             |                                                                                                                                                                                                               |   |
|                              | **Item                  1.**                     | Condensed                  Consolidated Financial Statements                                                                                                                                                       | 3 |
|                              |
|                              |                                             | Condensed                  Consolidated Balance Sheets as of September 30, 2007 and December                  31,                  2006, respectively                                                              | 4 |
|                              |                                             |                                                                                                                                                                                                               |   |
|                              |                                             | Condensed                  Consolidated Statements of Operations for the three months and                  nine months                  ended September 30, 2007 and 2006, respectively                            | 6 |
|                              |                                             |                                                                                                                                                                                                               |   |
|                              |                                             | Condensed                  Consolidated Statements of Comprehensive Income for the three months                  and                  nine months ended September 30, 2007 and 2006,                  respectively | 7 |
|                              |                                             |                                                                                                                                                                                                               |   |
|                              |                                             | Condensed                  Consolidated Statements of Cash Flows for the nine months ended                  September                  30, 2007 and 2006, respectively                                             | 8 |
|                              |                                             |                                                                                                                                                                                                               |   |
|                              |                                             | Notes                  to Condensed Consolidated Financial Statements                                                                                                                                              | 9 |
|                              |                                             |                                                                                                                                                                                                               |   |
|                              | **Item                  2.**                     | Management’s                  Discussion and Analysis of Financial Condition and Results of                  Operations                                                                                      | 15 |
|                              |
|                              | **Item                  3.**                     | Quantitative                  and Qualitative Disclosures about Market Risk                                                                                                                                        | 18 |
|                              |
|                              | **Item                  4.**                     | Controls                  and Procedures                                                                                                                                                                           | 19 |
|                              |
| **PART                  II**      | **OTHER                  INFORMATION**           |
|                              |                                             |                                                                                                                                                                                                               |   |
|                              | **Item                  1.**                     | Legal                  Proceedings                                                                                                                                                                                 | 19 |
|                              |
|                              | **Item                  1A.**                    | Risk                  Factors                                                                                                                                                                                      | 19 |
|                              |
|                              | **Item                  2.**                     | Unregistered                  Sales of Equity Securities and Use of Proceeds                                                                                                                                       | 19 |
|                              |
|                              | **Item                  3.**                     | Defaults                  Upon Senior Securities                                                                                                                                                                   | 19 |
|                              |
|                              | **Item                  4.**                     | Submission                  of Matters to a Vote of Security Holders                                                                                                                                               | 19 |
|                              |                                             |                                                                                                                                                                                                               |   |
|                              | **Item                  5.**                     | Other                  Information                                                                                                                                                                                 | 19 |
|                              |                                             |                                                                                                                                                                                                               |   |
|                              | **Item                  6.**                     | Exhibits                                                                                                                                                                                                           | 19 |
|                              |
|                              | **Signatures**                                   |                                                                                                                                                                                                               |
|                              | **Exhibit                  Index**               |                                                                                                                                                                                                               |
|                              | **Section                  302 Certifications**  |                                                                                                                                                                                                               |
|                              | **Section                  906 Certifications**  |                                                                                                                                                                                                               |
|                              |                                             |                                                                                                                                                                                                               |

----

Table            of Contents

|   | **IMPORTANT                  ADVISORY NOTE REGARDING FORWARD-LOOKING                  STATEMENTS** |
|--------|----------------------------------------------------------------------------------------------------|

***This        report and the documents incorporated into this report contain forward-looking        statements within the meaning of the Private Securities Litigation Reform        Act of        1995 ("PSLRA"), including, but not limited to, statements relating to the        company's business objectives and strategy.  Such forward-looking        statements are based on current expectations, management beliefs, certain        assumptions made by the company's management, and estimates and projections        about the company's industry.  Words such as "anticipates," "expects,"        "intends," "plans," "believes," "seeks," "estimates," "forecasts," "is likely,"        "predicts," "projects," "judgment," variations of such words and similar        expressions are intended to identify such forward-looking        statements.  These statements are not guarantees of future performance        and are subject to certain risks, uncertainties and assumptions that are        difficult to predict with respect to timing, extent, likelihood and degree        of        occurrence.  Therefore, actual results and outcomes may differ        materially from those expressed, forecasted, or contemplated by any such        forward-looking statements.***

***Factors        that could cause actual events or results to differ materially include, but        are        not limited to, the following:  early terminations of existing golf        course management agreements; the company's ability to expand its golf        management business; general demand for the company's services or products,        intense competition from other golf course managers and residential        developers/builders; the company's limited cash flow from operations; changes        in        laws and regulations affecting the company and/or its services; the outcomes        of        future litigation and contingencies; trends in the golf and housing industry;        changes in local,  national and international economies; local and        global uncertainties created by the terrorist acts of September 11 and the        current war against terrorism; and risks inherent in and associated with        doing        business in a recreational and/or interest rate sensitive        industry.  Given these uncertainties, investors are cautioned not to        place undue reliance on any such forward-looking        statements.***

***Unless        required by law, the company undertakes no obligation to update publicly        any        forward-looking statements, whether as a result of new information, future        events or otherwise.  However, readers should carefully review the        risk factors set forth in other reports or documents that the company files        from        time to time with the Securities and Exchange Commission (the "SEC"),        particularly Annual Reports on Form 10-K or 10-KSB, Quarterly Reports on        Form        10-Q or 10-QSB and any Current Reports on Form 8-K.***

**PART        I – FINANCIAL INFORMATION **

**Item        1.                      Condensed        Consolidated Financial Statements**

----

Table            of Contents

| **Landmark                  Land Company, Inc.**                                               |   |
|------------------------------------------------------------------------------------------------|--------|
| **Condensed                  Consolidated Balance Sheets**                                     |   |
| **(Unaudited)**                                                                                |   |
|                                                                                           |   |
|                                                                                           |   | **September                  30,** |   |   | December                  31, |   |
|                                                                                           |   | **2007** |   |   | 2006 |   |
| **Assets**                                                                                     |   |   |   |   |   |   |
| **Current                  assets**                                                            |   |
| Cash                  and cash equivalents                                                     |   | **$** | **6,467,376** |   |   | $ | 5,437,186 |   |
| Accounts                  receivable                                                           |   | ** ** | **469,017** |   |   |   | 2,790,318 |   |
| Receivable                  from affiliates                                                    |   | ** ** | **712,819** |   |   |   | 645,123 |   |
| Inventories                                                                                    |   | ** ** | **107,803** |   |   |   | 95,541 |   |
| Other                  current assets                                                          |   | ** ** | **233,849** |   |   |   | 261,726 |   |
| Deferred                  tax asset                                                            |   | ** ** | **-** |   |   |   | 93,000 |   |
| Total                  current assets                                                          |   | ** ** | **7,990,864** |   |   |   | 9,322,894 |   |
|                                                                                           |   |
| **Real                  estate and golf management contract rights                  acquired** |   | ** ** | **3,285,587** |   |   |   | 3,843,504 |   |
| Less                  accumulated amortization                                                 |   | ** ** | **(924,472** | **)** |   |   | (1,482,389 | ) |
| Total                  contract rights acquired, net                                           |   | ** ** | **2,361,115** |   |   |   | 2,361,115 |   |
|                                                                                           |   |
| **Real                  estate**                                                               |   |
| Real                  estate held for sale                                                     |   | ** ** | **802,211** |   |   |   | 792,382 |   |
| Real                  estate held for or under development                                     |   | ** ** | **14,943,815** |   |   |   | 11,666,315 |   |
| Total                  real estate                                                             |   | ** ** | **15,746,026** |   |   |   | 12,458,697 |   |
|                                                                                           |   |
| **Property                  and equipment,**net of accumulated depreciation                    |   |
| of                  $639,539 and $202,216 in 2007 and 2006, respectively                       |   | ** ** | **5,095,930** |   |   |   | 1,266,646 |   |
|                                                                                           |   |
| **Other                  assets**                                                              |   |
| Investment                  in unconsolidated affiliates                                       |   | ** ** | **3,850,252** |   |   |   | 4,096,627 |   |
| Deposits                                                                                       |   | ** ** | **100,000** |   |   |   | 135,800 |   |
| Deferred                  tax assets, non-current                                              |   | ** ** | **4,435,000** |   |   |   | 53,000 |   |
| Total                  other assets                                                            |   | ** ** | **8,385,252** |   |   |   | 4,285,427 |   |
|                                                                                           |   |
| Total                  assets                                                                  |   | **$** | **39,579,187** |   |   | $ | 29,694,779 |   |

----

Table            of Contents

| **Landmark                  Land Company, Inc.**                                 |   |
|----------------------------------------------------------------------------------|--------|
| **Condensed                  Consolidated Balance Sheets**                       |   |
| **(Unaudited)**                                                                  |   |
|                                                                             |   |
|                                                                             |   | **September                  30,** |   |   | December                  31, |   |
|                                                                             |   | **2007** |   |   | 2006 |   |
| **Liabilities                  and Stockholders' Equity**                        |   |   |   |   |   |   |
| **Current                  liabilities**                                         |   |
| Current                  portion of notes payable to others                      |   | **$** | **8,379,628** |   |   | $ | 669,361 |   |
| Payable                  to affiliates                                           |   | ** ** | **1,192,074** |   |   |   | 1,192,074 |   |
| Accounts                  payable and accrued expenses                           |   | ** ** | **391,382** |   |   |   | 714,039 |   |
| Accrued                  payroll and related expenses                            |   | ** ** | **350,859** |   |   |   | 269,763 |   |
| Accrued                  interest due affiliates                                 |   | ** ** | **806,303** |   |   |   | 771,140 |   |
| Accrued                  interest due others                                     |   | ** ** | **294,758** |   |   |   | 239,776 |   |
| Dividends                  payable                                               |   | ** ** | **-** |   |   |   | 382,698 |   |
| Other                  liabilities and deferred credits                          |   | ** ** | **161,144** |   |   |   | 218,762 |   |
| Real                  estate sales contract deposits                             |   | ** ** | **305,194** |   |   |   | 1,360,640 |   |
| Current                  income taxes                                            |   | ** ** | **85,000** |   |   |   | 2,532,000 |   |
| Total                  current liabilities                                       |   | ** ** | **11,966,342** |   |   |   | 8,350,253 |   |
|                                                                             |   |
| **Long                  term liabilities**                                       |   |
| Notes                  payable to others                                         |   | ** ** | **8,002,318** |   |   |   | 8,637,274 |   |
|                                                                             |   |
| Total                  liabilities                                               |   | ** ** | **19,968,660** |   |   |   | 16,987,527 |   |
|                                                                             |   |
| **Stockholders'                  equity**                                        |   |
| Preferred                  stock, Series C, non-voting, $.50 par value; $100     |   |   |   |   |   |   |   |   |
| liquidation                  value; $10 cumulative annual dividend;              |   |   |   |   |   |   |   |   |
| 50,000                  shares authorized; 10,000 shares issued and outstanding, |   |   |   |   |   |
| stated                  at liquidation value                                     |   | ** ** | **1,000,000** |   |   |   | 1,000,000 |   |
| Common                  stock, $.50 par value; 20,000,000 shares authorized;     |   |   |   |   |   |   |   |   |
| 8,804,468                  shares issued; 7,567,530 shares outstanding           |   | ** ** | **4,402,234** |   |   |   | 4,402,234 |   |
| Additional                  paid-in capital                                      |   | ** ** | **30,406,772** |   |   |   | 30,304,044 |   |
| Treasury                  stock, at cost, 1,236,938 shares                       |   | ** ** | **(1,299,820** | **)** |   |   | (1,299,820 | ) |
| Accumulated                  deficit                                             |   | ** ** | **(14,833,943** | **)** |   |   | (21,649,514 | ) |
| Accumulated                  other comprehensive loss                            |   | ** ** | **(64,716** | **)** |   |   | (49,692 | ) |
| Total                  stockholders' equity                                      |   | ** ** | **19,610,527** |   |   |   | 12,707,252 |   |
|                                                                             |   |
| Total                  liabilities and stockholders' equity                      |   | **$** | **39,579,187** |   |   | $ | 29,694,779 |   |

----

Table            of Contents

| **Landmark                  Land Company, Inc.**                        |   |
|-------------------------------------------------------------------------|--------|
| **Condensed                  Consolidated Statements of Operations**    |   |
| **(Unaudited)**                                                         |   |
|                                                                    |   |
|                                                                    |   | **Three                  months ended September 30,** |   |   | **Nine                  months ended September 30,** |   |
|                                                                    |   | **2007** |   |   | 2006 |   |   | **2007** |   |   | 2006 |   |
| **Revenue**                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Real                  estate sales                                      |   | **$** | **4,149,806** |   |   | $ | 4,618,532 |   |   | **$** | **17,489,740** |   |   | $ | 16,732,115 |   |
| Golf                  course revenue                                    |   | ** ** | **283,506** |   |   |   | 298,049 |   |   | ** ** | **1,025,215** |   |   |   | 1,068,686 |   |
| Golf                  merchandise sales                                 |   | ** ** | **63,552** |   |   |   | 67,324 |   |   | ** ** | **219,704** |   |   |   | 229,907 |   |
| Food                  and beverage sales                                |   | ** ** | **62,252** |   |   |   | 39,244 |   |   | ** ** | **235,852** |   |   |   | 129,718 |   |
| Management                  and consulting fees                         |   | ** ** | **478,548** |   |   |   | 959,598 |   |   | ** ** | **1,676,678** |   |   |   | 2,679,278 |   |
|  Reimbursement                  of out-of-pocket expenses          |   | ** ** | **401,945** |   |   |   | 404,358 |   |   | ** ** | **1,214,386** |   |   |   | 1,059,166 |   |
| Total                  revenues                                         |   | ** ** | **5,439,609** |   |   |   | 6,387,105 |   |   | ** ** | **21,861,575** |   |   |   | 21,898,870 |   |
|                                                                    |   |
| **Costs                  of revenue**                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost                  of real estate sold                               |   | ** ** | **2,486,071** |   |   |   | 2,960,538 |   |   | ** ** | **11,438,259** |   |   |   | 10,619,267 |   |
| Real                  estate operating expenses                         |   | ** ** | **477,762** |   |   |   | 335,350 |   |   | ** ** | **1,482,268** |   |   |   | 967,826 |   |
| Cost                  of golf merchandise sold                          |   | ** ** | **37,863** |   |   |   | 37,950 |   |   | ** ** | **133,585** |   |   |   | 132,830 |   |
| Cost                  of food and beverage sold                         |   | ** ** | **30,181** |   |   |   | 17,067 |   |   | ** ** | **110,386** |   |   |   | 56,606 |   |
| Golf                  operating expenses                                |   | ** ** | **473,109** |   |   |   | 376,513 |   |   | ** ** | **1,383,083** |   |   |   | 1,116,409 |   |
| Out-of-pocket                  expenses                                 |   | ** ** | **401,945** |   |   |   | 404,358 |   |   | ** ** | **1,214,386** |   |   |   | 1,059,166 |   |
| Management                  and consulting payroll and related expenses |   | ** ** | **931,621** |   |   |   | 894,207 |   |   | ** ** | **2,887,795** |   |   |   | 2,454,904 |   |
| Depreciation                  and amortization                          |   | ** ** | **151,237** |   |   |   | 102,806 |   |   | ** ** | **438,313** |   |   |   | 284,294 |   |
| Total                  costs of revenue                                 |   | ** ** | **4,989,789** |   |   |   | 5,128,789 |   |   | ** ** | **19,088,075** |   |   |   | 16,691,302 |   |
|                                                                    |   |
| **Operating                  income**                                   |   | ** ** | **449,820** |   |   |   | 1,258,316 |   |   | ** ** | **2,773,500** |   |   |   | 5,207,568 |   |
|                                                                    |   |
| **General,                  administrative and other expenses**         |   | ** ** | **(614,497** | **)** |   |   | (233,502 | ) |   | ** ** | **(1,855,558** | **)** |   |   | (712,102 | ) |
|                                                                    |   |
| **Other                  income (expenses)**                            |   |   |
| Equity                  in loss of unconsolidated affiliates            |   | ** ** | **(12,444** | **)** |   |   | (79,886 | ) |   | ** ** | **(137,199** | **)** |   |   | (398,639 | ) |
| Interest                  income                                        |   | ** ** | **69,173** |   |   |   | 54,880 |   |   | ** ** | **188,641** |   |   |   | 112,485 |   |
| Interest                  expense                                       |   | ** ** | **(155,482** | **)** |   |   | (82,218 | ) |   | ** ** | **(448,522** | **)** |   |   | (266,123 | ) |
| Total                  other income (expenses)                          |   | ** ** | **(98,753** | **)** |   |   | (107,224 | ) |   | ** ** | **(397,080** | **)** |   |   | (552,277 | ) |
|                                                                    |   |
| **Net                  income (loss) before income taxes**              |   | ** ** | **(263,430** | **)** |   |   | 917,590 |   |   | ** ** | **520,862** |   |   |   | 3,943,189 |   |
|                                                                    |   |
| **Federal                  and state income taxes**                     |   | ** ** | **47,442** |   |   |   | (363,000 | ) |   | ** ** | **(308,718** | **)** |   |   | (1,394,181 | ) |
|                                                                    |   |
| **Net                  income (loss)**                                  |   | **$** | **(215,988** | **)** |   | $ | 554,590 |   |   | **$** | **212,144** |   |   | $ | 2,549,008 |   |
|                                                                    |   |
| **Basic                  income (loss) per common share**               |   | **$** | **(0.03** | **)** |   | $ | 0.07 |   |   | **$** | **0.02** |   |   | $ | 0.32 |   |
|                                                                    |   |
| **Basic                  weighted average shares outstanding**          |   | ** ** | **7,567,530** |   |   |   | 7,660,055 |   |   | ** ** | **7,567,530** |   |   |   | 7,660,055 |   |
|                                                                    |   |
| **Diluted                  income (loss) per common share**             |   | **$** | **(0.03** | **)** |   | **$** | **0.07** |   |   | **$** | **0.02** |   |   | $ | 0.32 |   |
|                                                                    |   |
| **Diluted                  weighted average shares outstanding**        |   | ** ** | **7,567,530** |   |   |   | 7,660,055 |   |   | ** ** | **7,725,538** |   |   |   | 7,661,452 |   |

----

Table            of Contents

| **Landmark                  Land Company, Inc.**                               |   |
|--------------------------------------------------------------------------------|--------|
| **Condensed                  Consolidated Statements of Comprehensive Income** |   |
| **(Unaudited)**                                                                |   |
|                                                                           |   |
|                                                                           |   | **Three                  months ended September 30,** |   |   | **Nine                  months ended September 30,** |   |
|                                                                           |   | **2007** |   |   | 2006 |   |   | **2007** |   |   | 2006 |   |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  income (loss)                                             |   | **$** | **(215,988** | **)** |   | $ | 554,590 |   |   | **$** | **212,144** |   |   | $ | 2,549,008 |   |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other                  comprehensive loss                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign                  currency translation adjustments                      |   | ** ** | **(8,817** | **)** |   |   | (1,141 | ) |   | ** ** | **(15,024** | **)** |   |   | (6,818 | ) |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive                  income (loss)                                   |   | **$** | **(224,805** | **)** |   | $ | 553,449 |   |   | **$** | **197,120** |   |   | $ | 2,542,190 |   |

----

Table            of Contents

| **Landmark                  Land Company, Inc.**                                                                                                             |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| **Condensed                  Consolidated Statements of Cash Flows**                                                                                         |   |
| **Nine                  Months Ended September 30, 2007 and 2006**                                                                                           |   |
| **(Unaudited)**                                                                                                                                              |   |
|                                                                                                                                                         |   |
|                                                                                                                                                         |   | **2007** |   |   | 2006 |   |
| **Cash                  flows from operating activities**                                                                                                    |   |   |   |   |   |   |
| Net                  income for the period                                                                                                                   |   | **$** | **212,144** |   |   | $ | 2,549,008 |   |
| Adjustments                  to reconcile net income to net cash                                                                                             |   |   |   |   |   |   |   |   |
| provided                  (used) by operating activities:                                                                                                    |   |   |   |   |   |   |   |   |
| Depreciation                  and amortization                                                                                                               |   | ** ** | **438,313** |   |   |   | 284,294 |   |
| Director                  and employee bonus paid in stock or options                                                                                        |   | ** ** | **102,728** |   |   |   | 107,068 |   |
| Equity                  in loss of unconsolidated affiliates                                                                                                 |   | ** ** | **137,199** |   |   |   | 398,639 |   |
| (Increase)                  decrease in                                                                                                                      |   |   |   |   |   |   |   |   |
| Accounts                  receivable                                                                                                                         |   | ** ** | **2,321,301** |   |   |   | (19,890 | ) |
| Receivable                  from affiliates                                                                                                                  |   | ** ** | **175,205** |   |   |   | 1,566,651 |   |
| Inventories                                                                                                                                                  |   | ** ** | **(12,262** | **)** |   |   | 1,572 |   |
| Other                  current assets and deposits                                                                                                           |   | ** ** | **63,677** |   |   |   | (532,680 | ) |
| Increase                  (decrease) in                                                                                                                      |   |   |   |   |   |   |   |   |
| Accounts                  payable and accrued expenses                                                                                                       |   | ** ** | **(322,657** | **)** |   |   | (229,206 | ) |
| Accrued                  payroll and related expenses                                                                                                        |   | ** ** | **81,096** |   |   |   | 84,415 |   |
| Accrued                  interest                                                                                                                            |   | ** ** | **90,145** |   |   |   | 70,859 |   |
| Other                  liabilities and deferred credits                                                                                                      |   | ** ** | **(57,618** | **)** |   |   | 59,553 |   |
| Federal                  and state income tax liabilities                                                                                                    |   | ** ** | **131,000** |   |   |   | 1,351,000 |   |
| Real                  estate sales contract deposits                                                                                                         |   | ** ** | **(1,055,446** | **)** |   |   | 804,703 |   |
| Net                  cash provided by operating activities                                                                                                   |   | ** ** | **2,304,825** |   |   |   | 6,495,986 |   |
|                                                                                                                                                         |   |
| **Cash                  flows from investing activities**                                                                                                    |   |   |   |   |   |   |   |   |
| Purchase                  of property and equipment                                                                                                          |   | ** ** | **(4,268,406** | **)** |   |   | (82,972 | ) |
| Sale                  of property and equipment, net                                                                                                         |   | ** ** | **810** |   |   |   | 15,531 |   |
| Purchase                  and development of real estate inventory                                                                                           |   | ** ** | **(14,909,521** | **)** |   |   | (13,458,684 | ) |
| Sale                  of real estate inventory                                                                                                               |   | ** ** | **11,622,192** |   |   |   | 10,850,227 |   |
| Investment                  in unconsolidated affiliates                                                                                                     |   | ** ** | **(148,750** | **)** |   |   | (4,487,500 | ) |
| Net                  cash (used) by investing activities                                                                                                     |   | ** ** | **(7,703,675** | **)** |   |   | (7,163,398 | ) |
|                                                                                                                                                         |   |
| **Cash                  flows from financing activities**                                                                                                    |   |   |   |   |   |   |   |   |
| Proceeds                  from debt to others                                                                                                                |   | ** ** | **18,157,593** |   |   |   | 11,887,631 |   |
| Repayments                  on debt to others                                                                                                                |   | ** ** | **(11,082,282** | **)** |   |   | (9,626,238 | ) |
| Cash                  dividends on common stock                                                                                                              |   | ** ** | **(571,271** | **)** |   |   | (547,490 | ) |
| Cash                  dividends on preferred stock                                                                                                           |   | ** ** | **(75,000** | **)** |   |   | (78,562 | ) |
| Net                  cash provided by financing activities                                                                                                   |   | ** ** | **6,429,040** |   |   |   | 1,635,341 |   |
|                                                                                                                                                         |   |
| **Net                  increase in cash during period**                                                                                                      |   | ** ** | **1,030,190** |   |   |   | 967,929 |   |
|                                                                                                                                                         |   |
| **Cash                  balance, beginning of period**                                                                                                       |   | ** ** | **5,437,186** |   |   |   | 4,944,004 |   |
|                                                                                                                                                         |   |
| **Cash                  balance, end of period**                                                                                                             |   | **$** | **6,467,376** |   |   | $ | 5,911,933 |   |
|                                                                                                                                                         |   |
| **Supplemental                  disclosure of cash flow information:**                                                                                       |   |   |   |   |   |   |   |   |
| Cash                  paid for interest, including $80,000 and $291,103 paid to affiliates                  in                  2007 and 2006, respectively. |   | **$** | **846,666** |   |   | $ | 486,366 |   |

----

Table            of Contents

**Landmark        Land Company, Inc.**

**Notes        to Condensed Consolidated Financial Statements**

**(Unaudited)**

**1.  Basis        of Presentation**

|                                                      |   | Three                  Months Ended September 30, |        |   | Nine                  Months Ended September 30, |   |
|-----------------------------------------------------------|--------|---------------------------------------------------|-------------|--------|--------------------------------------------------|--------|
|                                                      |   | **2007**                                          |        |   | 2006                                             |   |   | **2007** |   |   | 2006 |   |
|                                                      |   |                                              |        |   |                                             |   |   |   |   |   |   |   |
| Revenue                                                   |   | **$**                                             | **736,170** |   |                                             | $      | 501,458 |   |   | **$** | **2,008,379** |   |   | $ | 1,527,158 |   |
| Gross                  profit (loss)                      |   | **$**                                             | **336,241** |   |                                             | $      | (25,547 | ) |   | **$** | **745,913** |   |   | $ | (377,533 | ) |
| Profit                  (loss) from continuing operations |   | **$**                                             | **336,241** |   |                                             | $      | (25,547 | ) |   | **$** | **745,913** |   |   | $ | (377,533 | ) |
| Net                  income (loss)                        |   | **$**                                             | **336,241** |   |                                             | $      | (25,547 | ) |   | **$** | **745,913** |   |   | $ | (377,533 | ) |

|                                             |   | Three                  Months Ended September 30, |         |   | Nine                  Months Ended September 30, |   |
|--------------------------------------------------|--------|---------------------------------------------------|--------------|--------|--------------------------------------------------|--------|
|                                             |   | **2007**                                          |         |   | 2006                                             |   |   | **2007** |   |   | 2006 |   |
|                                             |   |                                              |         |   |                                             |   |   |   |   |   |   |   |
| Revenue                                          |   | **$**                                             | **-**        |   |                                             | $      | - |   |   | **S** | **-** |   |   | S | - |   |
| Gross                  loss                      |   | **$**                                             | **(541,707** | **)**  |                                             | $      | (201,360 | ) |   | **$** | **(1,530,480** | **)** |   | $ | (629,641 | ) |
| Loss                  from continuing operations |   | **$**                                             | **(541,707** | **)**  |                                             | $      | (201,360 | ) |   | **$** | **(1,530,480** | **)** |   | $ | (629,641 | ) |
| Net                  loss                        |   | **$**                                             | **(541,707** | **)**  |                                             | $      | (201,360 | ) |   | **$** | **(1,530,480** | **)** |   | $ | (629,641 | ) |

----

Table            of Contents

**2.  Earnings        Per Share**

|                                                                          |   | Three                  Months Ended September 30, |          |   | Nine                  Months Ended September 30, |   |
|-------------------------------------------------------------------------------|--------|---------------------------------------------------|---------------|--------|--------------------------------------------------|--------|
|                                                                          |   | **2007**                                          |          |   | 2006                                             |   |   | **2007** |   |   | 2006 |   |
|                                                                          |   |                                              |          |   |                                             |   |   |   |   |   |   |   |
| Net                  income (loss)                                            |   | **$**                                             | **(215,988**  | **)**  |                                             | $      | 554,590 |   |   | **$** | **212,144** |   |   | $ | 2,549,008 |   |
| Less:  Preferred                  dividends                         |   | **$**                                             | **(25,000**   | **)**  |                                             | $      | (25,000 | ) |   | **$** | **(75,000** | **)** |   | $ | (78,562 | ) |
| Net                  income available to common shareholders                  |   | **$**                                             | **(240,988**  | **)**  |                                             | $      | 529,590 |   |   | **$** | **137,144** |   |   | $ | 2,470,446 |   |
| Weighted                  average common shares outstanding                   |   | ** **                                        | **7,567,530** |   |                                             |   | 7,660,055 |   |   | ** ** | **7,567,530** |   |   |   | 7,660,055 |   |
| Incremental                  shares from assumed exercise of dilutive options |   | ** **                                        | **-**         |   |                                             |   | - |   |   | ** ** | **158,008** |   |   |   | 1,397 |   |
| Diluted                  weighted average common shares outstanding           |   | ** **                                        | **7,567,530** |   |                                             |   | 7,660,055 |   |   | ** ** | **7,725,538** |   |   |   | 7,661,452 |   |
| Basic                  income per common share                                |   | **$**                                             | **(0.03**     | **)**  |                                             | $      | 0.07 |   |   | **$** | **0.02** |   |   | $ | 0.32 |   |
| Diluted                  income per common share                              |   | **$**                                             | **(0.03**     | **)**  |                                             | $      | 0.07 |   |   | **$** | **0.02** |   |   | $ | 0.32 |   |

*Earnings Per Share*

**3.  Stock        Options**

----

Table            of Contents

*Stock        Option Agreements*

| Assumption                                | 2007        |
|-------------------------------------------|-------------|
|                                      |        |
| Expected                  volatility      | 43%         |
| Expected                  term (in years) | 2.5         |
| Risk                  free rate           | 4.51%-4.79% |
| Expected                  dividends       | 3.50%-3.92% |

|     Options                    |   | Shares |    |   | Weighted-Average                  Exercise Price |   | Weighted-                  Average Remaining Contractual Term |   | Aggregate                  Intrinsic Value |   |
|----------------------------------------------------|--------|--------|---------|--------|--------------------------------------------------|--------|---------------------------------------------------------------|--------|--------------------------------------------|--------|
|                                               |   |   |    |   |                                             |   |                                                          |   |                                       |   |
| Outstanding                  at January 1, 2007    |   |   | 200,000 |   |                                             |   | 2.00                                                          |   | 3.8                  years                 |   |   |   |
| Granted                                            |   |   | 100,000 |   |                                             |   | 2.70                                                          |   | 4.9                  years                 |   |   |   |
| Exercised                                          |   |   | -       |   |                                             |   | -                                                             |   |                                       |   |   |   |
| Forfeited                  or expired              |   |   | -       |   |                                             |   | -                                                             |   |                                       |   |   |   |
| Outstanding                  at September 30, 2007 |   |   | 300,000 |   |                                             |   | 2.23                                                          |   | 4.1                  years                 |   |   | 100,000 |   |
| Exercisable                  at September 30, 2007 |   |   | 300,000 |   |                                             |   | 2.23                                                          |   | 4.1                  years                 |   |   | 100,000 |   |

*Incentive        Stock Option Plan.*
** **

----

Table            of Contents

| Assumption                                | 2007        |
|-------------------------------------------|-------------|
|                                      |        |
| Expected                  volatility      | 43%         |
| Expected                  term (in years) | 7.5         |
| Expected                  forfeiture      | 10%         |
| Risk                  free rate           | 4.68%-4.80% |
| Expected                  dividends       | 3.50%-3.92% |

| Options                                            |   | Shares |    |   | Weighted                  Average Exercise Price |   | Weighted                  Average Remaining Contractual Term |   | Aggregate                  Intrinsic Value |   |
|----------------------------------------------------|--------|--------|---------|--------|--------------------------------------------------|--------|--------------------------------------------------------------|--------|--------------------------------------------|--------|
|                                               |   |   |    |   |                                             |   |                                                         |   |                                       |   |
| Outstanding                  at January 1, 2007    |   |   | 247,500 |   |                                             |   | 1.70                                                         |   |                                       |   |   |   |
| Granted                                            |   |   | 201,500 |   |                                             |   | 2.85                                                         |   |                                       |   |   |   |
| Exercised                                          |   |   | -       |   |                                             |   | -                                                            |   |                                       |   |   |   |
| Forfeited                  or expired              |   |   | 11,000  |   |                                             |   | 1.74                                                         |   |                                       |   |   |   |
| Outstanding                  at September 30, 2007 |   |   | 438,000 |   |                                             |   | 2.23                                                         |   | 9.2                  years                 |   | $ | 188,490 |   |
| Exercisable                  at September 30, 2007 |   |   | -       |   |                                             |   | -                                                            |   | -                                          |   |   | - |   |

| Non-vested                  Options               |   | Shares |    |   | Weighted-Average                  Grant-DateFair                  Value |   |
|---------------------------------------------------|--------|--------|---------|--------|-------------------------------------------------------------------------|--------|
|                                              |   |   |    |   |                                                                    |   |
| Non-vested                  at January 1, 2007    |   |   | 247,500 |   |                                                                    | $      | 0.56 |   |
| Granted                                           |   |   | 201,500 |   |                                                                    | $      | 1.03 |   |
| Vested                                            |   |   | -       |   |                                                                    |   | - |   |
| Forfeited                                         |   |   | 11,000  |   |                                                                    | $      | 0.60 |   |
| Non-vested                  at September 30, 2007 |   |   | 438,000 |   |                                                                    | $      | 0.77 |   |

**4.  Reclassifications**

**5.  Commitments**

----

Table            of Contents

|                                                            |   | **2007**   |        |   | 2006   |   |
|-----------------------------------------------------------------|--------|------------|-------------|--------|--------|--------|
|                                                            |   |       |        |   |   |   |   |   |
| Warranty                  accrual balance January  1, |   | **$**      | **146,635** |   |   | $      | 82,260 |   |
| Provision                  for warranty                         |   | ** ** | **74,440**  |   |   |   | 58,214 |   |
| Payments                                                        |   | ** ** | **(87,808** | **)**  |   |   | (14,562 | ) |
| Warranty                  accrual balance September 30,         |   | **$**      | **133,267** |   |   | $      | 125,912 |   |

**6.  Income        Taxes**

*Accounting for        Uncertainty in Income Taxes*
*Accounting for Income Taxes*

----

Table            of Contents

**7.        Segment Information**

|                                                  |   | **Three                  Months Ended September 30, 2007** |           |
|-------------------------------------------------------|--------|------------------------------------------------------------|----------------|
|                                                  |   | **Real                  Estate**                           |           |   | **Golf** |   |   | **Management** |   |   | **Corporate** |   |   | **Total** |   |
|                                                  |   |                                                       |           |   |   |   |   |   |   |   |   |   |   |   |   |
| **Revenue**                                           |   | **$**                                                      | **4,149,806**  |   |   | **$** | **409,310** |   |   | **$** | **880,493** |   |   | ** ** | **-** |   |   | **$** | **5,439,609** |   |
| **Costs                  of revenue**                 |   | ** **                                                 | **(2,963,833** | **)** |   | ** ** | **(541,153** | **)** |   | ** ** | **(1,333,566** | **)** |   | ** ** | **-** |   |   | ** ** | **(4,838,552** | **)** |
| **Depreciation                  and amortization**    |   | ** **                                                 | **(8,221**     | **)** |   | ** ** | **(32,495** | **)** |   | ** ** | **(8,452** | **)** |   | ** ** | **(102,069** | **)** |   | ** ** | **(151,237** | **)** |
| **Operating                  income (loss)**          |   | ** **                                                 | **1,177,752**  |   |   | ** ** | **(164,338** | **)** |   | ** ** | **(461,525** | **)** |   | ** ** | **(102,069** | **)** |   | ** ** | **449,820** |   |
| **General                  and administrative**       |   | ** **                                                 | **-**          |   |   | ** ** | **-** |   |   | ** ** | **-** |   |   | ** ** | **(614,497** | **)** |   | ** ** | **(614,497** | **)** |
| **Other                  income (expenses)**          |   | ** **                                                 | **-**          |   |   | ** ** | **-** |   |   | ** ** | **-** |   |   | ** ** | **(98,753** | **)** |   | ** ** | **(98,753** | **)** |
| **Federal                  & state income taxes** |   | ** **                                                 | **(1,165,406** | **)** |   | ** ** | **107,740** |   |   | ** ** | **380,721** |   |   | ** ** | **724,387** |   |   | ** ** | **47,442** |   |
| **Net                  income (loss)**                |   | **$**                                                      | **12,346**     |   |   | **$** | **(56,598** | **)** |   | **$** | **(80,804** | **)** |   | **$** | **(90,932** | **)** |   | **$** | **(215,988** | **)** |
|                                                  |   |                                                       |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Long-lived                  assets**                |   | **$**                                                      | **16,105,315** |   |   | **$** | **1,127,435** |   |   | **$** | **3,726,733** |   |   | **$** | **10,628,840** |   |   | **$** | **31,588,323** |   |
| **Other                  assets**                     |   | ** **                                                 | **1,493,950**  |   |   | ** ** | **219,067** |   |   | ** ** | **1,184,986** |   |   | ** ** | **5,092,861** |   |   | ** ** | **7,990,864** |   |
| **Total                  assets**                     |   | **$**                                                      | **17,599,265** |   |   | **$** | **1,346,502** |   |   | **$** | **4,911,719** |   |   | **$** | **15,721,701** |   |   | **$** | **39,579,187** |   |
|                                                  |   |
|                                                  |   | Three                  Months Ended September 30, 2006     |           |
|                                                  |   | Real                  Estate                               |           |   | Golf |   |   | Management |   |   | Corporate |   |   | Total |   |
| Revenue                                               |   | $                                                          | 4,618,532      |   |   | $ | 404,617 |   |   | $ | 1,363,956 |   |   |   | - |   |   | $ | 6,387,105 |   |
| Costs                  of revenue                     |   |                                                       | (3,295,888     | ) |   |   | (431,530 | ) |   |   | (1,298,565 | ) |   |   | - |   |   |   | (5,025,983 | ) |
| Depreciation                  and amortization        |   |                                                       | (4,249         | ) |   |   | (17,749 | ) |   |   | (80,808 | ) |   |   | - |   |   |   | (102,806 | ) |
| Operating                  income (loss)              |   |                                                       | 1,318,395      |   |   |   | (44,662 | ) |   |   | (15,417 | ) |   |   | - |   |   |   | 1,258,316 |   |
| General                  and administrative           |   | ** **                                                 | **-**          |   |   | ** ** | **-** |   |   | ** ** | **-** |   |   |   | (233,502 | ) |   |   | (233,502 | ) |
| Other                  income (expenses)              |   | ** **                                                 | **-**          |   |   | ** ** | **-** |   |   | ** ** | **-** |   |   |   | (107,224 | ) |   |   | (107,224 | ) |
| Federal                  & state income taxes     |   |                                                       | (514,776       | ) |   |   | 14,294 |   |   |   | 5,238 |   |   |   | 132,244 |   |   |   | (363,000 | ) |
| Net                  income (loss)                    |   | $                                                          | 803,619        |   |   | $ | (30,368 | ) |   | $ | (10,179 | ) |   | $ | (208,482 | ) |   |   | 554,590 |   |

----

Table            of Contents

|                                                  |   | **Nine                  Months Ended September 30, 2007** |            |
|-------------------------------------------------------|--------|-----------------------------------------------------------|-----------------|
|                                                  |   | **Real                  Estate**                          |            |   | **Golf** |   |   | **Management** |   |   | **Corporate** |   |   | **Total** |   |
|                                                  |   |                                                      |            |   |   |   |   |   |   |   |   |   |   |   |   |
| **Revenue**                                           |   | **$**                                                     | **17,489,740**  |   |   | **$** | **1,480,771** |   |   | **$** | **2,891,064** |   |   | ** ** | **-** |   |   | **$** | **21,861,575** |   |
| **Costs                  of revenue**                 |   | ** **                                                | **(12,920,527** | **)** |   | ** ** | **(1,627,054** | **)** |   | ** ** | **(4,102,181** | **)** |   | ** ** | **-** |   |   | ** ** | **(18,649,762** | **)** |
| **Depreciation                  and amortization**    |   | ** **                                                | **(19,302**     | **)** |   | ** ** | **(92,629** | **)** |   | ** ** | **(23,722** | **)** |   | ** ** | **(302,660** | **)** |   | ** ** | **(438,313** | **)** |
| **Operating                  income (loss)**          |   | ** **                                                | **4,549,911**   |   |   | ** ** | **(238,912** | **)** |   | ** ** | **(1,234,839** | **)** |   | ** ** | **(302,660** | **)** |   | ** ** | **2,773,500** |   |
| **General                  and administrative**       |   | ** **                                                | **-**           |   |   | ** ** | **-** |   |   | ** ** | **-** |   |   | ** ** | **(1,855,558** | **)** |   | ** ** | **(1,855,558** | **)** |
| **Other                  income (expenses)**          |   | ** **                                                | **-**           |   |   | ** ** | **-** |   |   | ** ** | **-** |   |   | ** ** | **(397,080** | **)** |   | ** ** | **(397,080** | **)** |
| **Federal                  & state income taxes** |   | ** **                                                | **(2,696,759**  | **)** |   | ** ** | **141,605** |   |   | ** ** | **731,896** |   |   | ** ** | **1,514,540** |   |   | ** ** | **(308,718** | **)** |
| **Net                  income (loss)**                |   | **$**                                                     | **1,853,152**   |   |   | ** ** | **(97,307** | **)** |   | **$** | **(502,943** | **)** |   | **$** | **(1,040,758** | **)** |   | **$** | **212,144** |   |
|                                                  |   |                                                      |            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                  |   | Nine                  Months Ended September 30, 2006     |            |
|                                                  |   | Real                  Estate                              |            |   | Golf |   |   | Management |   |   | Corporate |   |   | Total |   |
| Revenue                                               |   | $                                                         | 16,732,115      |   |   | $ | 1,428,311 |   |   | $ | 3,738,444 |   |   |   | - |   |   | $ | 21,898,870 |   |
| Costs                  of revenue                     |   |                                                      | (11,587,093     | ) |   |   | (1,305,845 | ) |   |   | (3,514,070 | ) |   |   | - |   |   |   | (16,407,008 | ) |
| Depreciation                  and amortization        |   |                                                      | (11,536         | ) |   |   | (49,717 | ) |   |   | (223,041 | ) |   |   | - |   |   |   | (284,294 | ) |
| Operating                  income (loss)              |   |                                                      | 5,133,486       |   |   |   | 72,749 |   |   |   | 1,333 |   |   |   | - |   |   |   | 5,207,568 |   |
| General                  and administrative           |   | ** **                                                | **-**           |   |   | ** ** | **-** |   |   | ** ** | **-** |   |   |   | (712,102 | ) |   |   | (712,102 | ) |
| Other                  income (expenses)              |   | ** **                                                | **-**           |   |   | ** ** | **-** |   |   | ** ** | **-** |   |   |   | (552,277 | ) |   |   | (552,277 | ) |
| Federal                  & state income taxes     |   |                                                      | (1,815,031      | ) |   |   | (25,722 | ) |   |   | (471 | ) |   |   | 447,043 |   |   |   | (1,394,181 | ) |
| Net                  income (loss)                    |   | $                                                         | 3,318,455       |   |   | $ | 47,027 |   |   | $ | 862 |   |   | $ | (817,336 | ) |   | $ | 2,549,008 |   |

**8.  Recent          Accounting          Pronouncements**

*Fair Value Measurements*

*The Fair Value Option for          Financial Assets and Financial Liabilities – Including an amendment of FASB          Statement No. 115*

**Item        2.                           Management’s        Discussion and Analysis of Financial Condition and Results of        Operations**

**Overview**

**Revenue**

*Real        estate sales*

----

Table            of Contents

*Golf*

*Management        and consulting*

**Costs        of Revenues**

*Cost        of real estate sold, *

*Real        estate operating expenses *
*cost of real estate sold*

*Cost        of golf merchandise sold and food and beverage sold*

*Golf        operating expenses*

*Management        and consulting payroll and related expenses*

*Depreciation        and amortization*

----

Table            of Contents

**General,        administrative and other expense**

*General,        administrative and other expenses*

**Other        income and expense**

*Equity        in loss of unconsolidated affiliates*

|                                                  |   |      |   |   | Three                  Months Ended September 30, |       |         | Nine                  Months Ended September 30, |   |
|-------------------------------------------------------|--------|-----------|--------|--------|---------------------------------------------------|------------|--------------|--------------------------------------------------|--------|
|                                                  |   | Ownership |   |   | **2007**                                          |       |         | 2006                                             |   |   | **2007** |   |   | 2006 |   |
|                                                  |   |      |   |   |                                              |       |         |                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Landmark                  Developments of Spain, S.L. |   |      | 50%    |   |                                              | **$**      | **168,000**  |                                             |   | $ | (13,000 | ) |   | **$** | **373,000** |   |   | $ | (189,000 | ) |
| Apes                  Hill Development SRL            |   |      | 33%    |   |                                              | **$**      | **(180,000** | **)**                                            |   | $ | (67,000 | ) |   | **$** | **(510,000** | **)** |   | $ | (210,000 | ) |
| Presidential                  Golf Club, LLC          |   |      | 50%    |   |                                              | ** ** | **-**        |                                             |   |   | - |   |   | ** ** | **-** |   |   |   | - |   |
|                                                  |   |      |   |   |                                              | **$**      | **(12,000**  | **)**                                            |   | $ | (80,000 | ) |   | **$** | **(137,000** | **)** |   | $ | (399,000 | ) |

*Interest        income*

*Interest        expense*

**Federal        and state income taxes**

**Net        income**

**Liquidity        and capital resources**

*Current        assets *

*Real        estate and golf management contract rights acquired*

----

Table            of Contents

*Real        estate *

*Property        and equipment *

*Liabilities        *

*off-balance sheet arrangements *

*Stockholders’        equity *

**Critical        accounting estimates**

**Item        3.                           Quantitative        and Qualitative Disclosures About Market Risk**

----

Table            of Contents

**Item        4.                           Controls        and Procedures**

**PART        II – OTHER INFORMATION**

**Item        1.                           Legal        Proceedings**

**Items        1A through 5 of this report on Form 10-Q are not        applicable.**

**Item        6.                           Exhibits**

| 31.1   | Section                  302 Certification |
|--------|--------------------------------------------|
|   |                                       |
| 31.2   | Section                  302 Certification |
|   |                                       |
| 32.1   | Section                  906 Certification |
|   |                                       |
| 32.2   | Section                  906 Certification |

----

Table            of Contents

**Signatures        and Certifications of the Chief Executive Officer and the Chief Financial        Officer of the Company**

----

Table            of Contents

**SIGNATURES**

| LANDMARK                  LAND COMPANY, INC.          |
|-------------------------------------------------------|
|                                                  |
|                                                  |
|                                                  |
| /s/                  Gerald G. Barton                 |
| Gerald                  G. Barton                     |
| Chairman                  and Chief Executive Officer |
| November                  13, 2007                    |

| LANDMARK                  LAND COMPANY, INC.                       |
|--------------------------------------------------------------------|
|                                                               |
|                                                               |
|                                                               |
| /s/                  Joe V. Olree                                  |
| Joe                  V. Olree                                      |
| Senior                  Vice President and Chief Financial Officer |
| November                  13, 2007                                 |

----

Table            of Contents

**LANDMARK        LAND COMPANY, INC.**

**FORM        10-Q**

**EXHIBIT        INDEX**

**Exhibit**

**Number**

| 31.1   | Section                  302 Certification of Gerald G. Barton |
|--------|----------------------------------------------------------------|
|   |                                                           |
| 31.2   | Section                  302 Certification of Joe V. Olree     |
|   |                                                           |
| 32.1   | Section                  906 Certification of Gerald G. Barton |
|   |                                                           |
| 32.2   | Section                  906 Certification of Joe V. Olree     |