UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

       Date of report (Date of earliest event reported): November 20, 2003

                             THE DELTONA CORPORATION
               (Exact Name of Registrant as Specified in Charter)

         DELAWARE                    1-4719                      59-0997584
(State or Other Jurisdiction       (Commission                (I.R.S. Employer
     Of Incorporation)             File Number)              Identification No.)

                            8014 SW 135th Street Road
                                 Ocala, FL 34473
                                  (352)307-8100
   (Address and Telephone Number of Registrant's Principal Executive Offices)

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ITEM 5.  OTHER EVENTS AND REGULATION FD DISCLOSURE

     On November  20, 2003,  the Company was served with a lawsuit  filed in the
Circuit Court of the Eleventh  Judicial Circuit in and for Dade County,  Florida
(Case No. 03-25259 CA 25) entitled Wilbur Forbes,  individually and on behalf of
a class of all other similarly situated minority  stockholders,  vs. The Deltona
Corporation;  Yasawa Holdings,  N.V., a Netherlands Antilles corporation;  Selex
International B.V., a Netherlands  corporation;  Wilbury International,  N.V., a
Netherlands  Antilles  corporation;  Swan Development  Corporation;  Scafholding
B.V., a Netherlands corporation;  Antony Gram, an individual; George W. Fischer,
an individual;  Thomas B. McNeill, an individual;  Rudy Gram, an individual; and
Christel  DeWilde,  an  individual.   The  Plaintiff,   is  seeking  unspecified
declaratory and supplemental  relief,  including  unspecified  monetary damages,
pursuant to Fla. Stat ss86.011., et. seq., for alleged breach of fiduciary duty,
conspiracy, and violation of Section 155 of the Delaware General Corporation Law
(8 Del. C. ss155).  The complaint  alleges that the Company"s Board of Directors
has approved a transaction which will privatize the Company and liquidate all of
the  Company's  minority  shareholders  through a  mechanism  of a 500,000  to 1
"reverse stock split" and "related cash purchase" of ensuing  fractional  shares
at the price of $0.40 per pre-split share,  which the Plaintiff alleges is below
"fair value". The lawsuit has only recently been filed. The Registrant  believes
it has meritorious  defenses to the plaintiff's claims and intends to vigorously
defend this action.

                                   SIGNATURES

Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                                   THE DELTONA CORPORATION
                                                        (Registrant)
Date: November 24, 2003                            /s/ Robert O. Moore
                                                   ---------------------------
                                                   Robert O. Moore,
                                                   Chief Financial Officer