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 *
KOTLER RANDY
   2. Issuer Name and Ticker or Trading Symbol
TECHNICAL OLYMPIC USA INC [TOA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP & Chief Accounting Officer
(Last)
(First)
(Middle)
4000 HOLLYWOOD BLVD.		 3. Date of Earliest Transaction (Month/Day/Year)
06/10/2005
(Street)

HOLLYWOOD, FL 33021		 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

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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
Employee Stock Option $ 10.08 06/10/2005   S     4,000 03/03/2004 03/03/2014 Common Stock 4,000 (1) $ 22.1 5,375 (1) D  
Employee Stock Option $ 10.61             03/03/2005 03/03/2014 Common Stock 9,375 (1)   9,375 (1) D  
Employee Stock Option $ 11.14             03/03/2006 03/03/2014 Common Stock 9,375 (1)   9,375 (1) D  
Employee Stock Option $ 11.67             03/03/2007 03/03/2014 Common Stock 9,375 (1)   9,375 (1) D  
Employee Stock Option $ 12.2             03/03/2008 03/03/2014 Common Stock 9,375 (1)   9,375 (1) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
KOTLER RANDY
4000 HOLLYWOOD BLVD.
HOLLYWOOD, FL 33021		       VP & Chief Accounting Officer  

Signatures

 Randy Kotler, Vice President and Chief Accounting Officer   06/13/2005
**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) On April 27, 2004, the Issuer declared a three for two stock split (effected as a 50% stock dividend) of its shares of common stock held of record on May 14, 2004, payable on June 1, 2004 ("2004 Dividend"). On March 1, 2005, the Issuer declared a five for four stock split (effected as a 25% stock dividend) of its shares of common stock held of record on March 11, 2005, payable on March 31, 2005 ("2005 Dividend"). The number of options reported in this form and the exercise price thereof have been adjusted to reflect the 2004 Dividend and 2005 Dividend.

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