SECURITIES AND EXCHANGE COMMISSION
Washington, DC  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) August 17, 1995	


                       Century Properties Fund XX		
        (Exact Name of Registrant as Specified in Its Charter)

                              California		
             (State or Other Jurisdiction of Incorporation)

             0-13408	                  94-2930770		 
   (Commission File Number)        (I.R.S. Employer Identification No.)

         5665 Northside Drive, N.W., Atlanta, Georgia            30328
          (Address of Principal Executive Offices)          (Zip Code)

                              (404) 916-9090		 
           (Registrant's Telephone Number, Including Area Code)

                              N/A                               	
       (Former Name or Former Address, if Changed Since Last Report)	



Item 1.   Change in Control 
 
     On August 17, 1995, the stockholders of National Property 
Investors, Inc. ("NPI"), the sole shareholder of NPI Equity 
Investments II, Inc. ("NPI Equity"), the entity which controls 
Fox Capital Management Corporation ("FCMC"), the managing general 
partner of Registrant's general partner, entered into an 
agreement to sell to IFGP Corporation, an affiliate of Insignia 
Financial Group, Inc. ("Insignia"), all of the issued and 
outstanding stock of NPI.  The sale of the stock is subject to 
the satisfaction of certain conditions (including governmental 
and third party consents and other conditions not within the 
control of the parties to the agreement) and is scheduled to 
close in January 1996.  Upon Closing, it is expected that the 
current officers and directors of NPI Equity and FCMC will resign 
and Insignia will elect new officers and directors. 

Item 7.   Financial Statements and Schedules

(c)     Exhibits

        2.   NPI, Inc. Stock Purchase Agreement, dated as of 
August 17, 1995  



SIGNATURES

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


                           CENTURY PROPERTIES FUND XX

                           By:  Fox Partners III, 
                                its general partner

                                By:  Fox Capital Management 
                                     Corporation,
                                     its general partner

Date:  August 21, 1995               By:   /s/ Michael L. Ashner      
                                          Michael L. Ashner, 
                                          President


                           EXHIBIT INDEX


       Exhibit                                      Page No.


2.    NPI, Inc. Stock Purchase Agreement,              5
      dated as of August 17, 1995