FORM 10-QSB--QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                        Quarterly or Transitional Report

                      U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

                   For the quarterly period ended March 31, 2000


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


                For the transition period from _________to _________

                         Commission file number 0-13408

                             CENTURY PROPERTIES FUND XX
         (Exact name of small business issuer as specified in its charter)


         California                                              94-2930770
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)

                          55 Beattie Place, PO Box 1089
                        Greenville, South Carolina 29602
                      (Address of principal executive offices)

                                 (864) 239-1000
                           (Issuer's telephone number)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes X No___

<PAGE>


                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS

a)

                           CENTURY PROPERTIES FUND XX

                     STATEMENT OF NET ASSETS IN LIQUIDATION

                                   (unaudited)

                          (in thousands, except unit data)

                                 March 31, 2000

     Assets

        Cash and cash equivalents                               $ 2,796
        Receivables and deposits                                    329
        Debt trustee escrow                                      12,170
        Investment properties                                    23,053

                                                                 38,348

     Liabilities

        Accounts payable                                            138
        Tenant security deposit liabilities                         111
        Accrued property taxes                                      157
        Other liabilities                                           102
        Non-recourse promissory notes (Note A)                   37,003
        Estimated costs during the period of liquidation            114

                                                                 37,625

     Net assets in liquidation                                   $ 723


                   See Accompanying Notes to Financial Statements

<PAGE>

b)

                           CENTURY PROPERTIES FUND XX

                 STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION
                                   (Unaudited)
                                   (in thousands)

                        Three Months Ended March 31, 2000


<TABLE>
<CAPTION>

<S>                                                                       <C>
Net liabilities in liquidation at beginning of period                     $  (373)

Changes in net liabilities in liquidation attributed to:

   Increase in cash and cash equivalents                                    1,078
   Decrease in receivables and deposits                                      (349)
   Increase in debt trustee escrow                                          9,900
   Decrease in investment properties                                       (9,088)
   Increase in accounts payable                                               (56)
   Decrease in tenant security deposit payable                                 14
   Decrease in accrued property taxes                                          85
   Decrease in other liabilities                                               74
   Increase in Non-Recourse Promissory Notes and interest                    (448)
   Increase in estimated costs during the period of liquidation              (114)

Net assets in liquidation at end of period                                 $  723
</TABLE>

                   See Accompanying Notes to Financial Statements

<PAGE>

c)

                           CENTURY PROPERTIES FUND XX

                             STATEMENT OF OPERATIONS

                                   (Unaudited)

                          (in thousands, except unit data)

                        Three Months Ended March 31, 1999


      Revenues:
        Rental income                                                   $1,937
        Other income                                                       112
        Income from deficiency certificate settlement                      147
            Total revenues                                               2,196

      Expenses:
        Operating                                                          725
        General and administrative                                         303
        Depreciation                                                       425
        Interest to promissory note holders                                628
        Property taxes                                                     157
            Total expenses                                               2,238

                Net loss                                                $  (42)

      Net loss allocated to general partner (2%)                         $  (1)

      Net loss allocated to limited partners (98%)                         (41)

                                                                          $(42)

      Net loss per limited partnership unit                             $(0.66)

                   See Accompanying Notes to Financial Statements

<PAGE>

d)

                           CENTURY PROPERTIES FUND XX

                             STATEMENT OF CASH FLOWS

                                   (Unaudited)

                          (in thousands, except unit data)

                        Three Months Ended March 31, 1999


Cash flows from operating activities:

   Net loss                                                               $ (42)
   Adjustments to reconcile net loss to net
     cash used in operating activities:
     Depreciation                                                           425
     Amortization of deferred charges                                        53
     Deferred interest on non-recourse promissory notes                     314
     Change in accounts:
        Receivables and deposits                                         (1,350)
        Other assets                                                        (36)
        Accounts payable                                                      1
        Tenant security deposit liabilities                                   4
        Accrued property taxes                                             (129)
        Accrued interest-promissory notes                                   314
        Other liabilities                                                    28

           Net cash used in operating activities                           (418)

Cash flows from investing activities:

    Property improvements and replacements                                 (110)
    Lease commissions paid                                                  (33)

           Net cash used in investing activities                           (143)

Cash flows used in financing activities:

    Loan costs paid                                                        (390)

Net decrease in cash and cash equivalents                                  (951)

Cash and cash equivalents at beginning of period                          9,197

Cash and cash equivalents at end of period                              $ 8,246


                   See Accompanying Notes to Financial Statements
<PAGE>

e)
                           CENTURY PROPERTIES FUND XX

                          NOTES TO FINANCIAL STATEMENTS

                                   (Unaudited)

Note A - Basis of Presentation

As of December  31,  1999,  Century  Properties  Fund XX (the  "Partnership"  or
"Registrant")  adopted the  liquidation  basis of accounting due to the imminent
loss of its remaining investment properties.

The  Partnership's  Nonrecourse  Promissory Notes (the "Notes") of approximately
$37,003,000 in principal and accrued  interest were in default due to nonpayment
upon maturity on November 30, 1998.  The Notes are secured by a deed of trust on
all properties owned by the  Partnership.  The Promissory Notes bear interest at
eight  percent  per annum  except  that  interest  of up to four  percent may be
deferred,  provided  the  Partnership  makes  interest  payments  on the  unpaid
principal balance of at least four percent per annum. The deferred interest does
not bear interest.  Fox Capital Management  Corporation ("FCMC" or the "Managing
General  Partner"),  the general partner of the  Partnership's  general partner,
previously  contacted the indenture trustee for the Notes and certain holders of
the Notes regarding this default.  On October 28, 1999 the  Partnership  entered
into a  forbearance  agreement  with the  indenture  trustee for a period of 390
days. In turn, the  Partnership  agreed to (a) deliver to the indenture  trustee
for  the  benefit  of  the  note  holders  all of the  accumulated  cash  of the
Partnership,  less certain  reserves and  anticipated  operating  expenses,  (b)
market all of its  properties  for sale,  (c) deliver all cash proceeds from any
sales to the  indenture  trustee  until the notes  are fully  satisfied  and (d)
comply with the  reporting  requirements  under the  indenture.  It is uncertain
whether the sale of the Partnership's  assets will generate  sufficient proceeds
to pay off the Nonrecourse  Promissory Notes in full. If the Partnership  cannot
sell its properties for sufficient  value,  in accordance  with the terms of the
forbearance  agreement,  it  is  likely  that  the  Partnership  will  lose  its
properties  through  delivery to an auctioneer who would sell the assets for the
benefit of the Note holders.

As a result of the  decision  to  liquidate  the  Partnership,  the  Partnership
changed its basis of  accounting  for its  financial  statements at December 31,
1999, to the  liquidation  basis of accounting.  Consequently,  assets have been
valued at estimated net realizable  value and liabilities are presented at their
estimated   settlement   amounts.   The  valuation  of  assets  and  liabilities
necessarily  requires many estimates and  assumptions  and there are substantial
uncertainties in carrying out the liquidation.  The actual realization of assets
and  settlement of liabilities  could be higher or lower than amounts  indicated
and is based upon the Managing General Partner's estimates as of the date of the
financial statements.

Included in  liabilities  in the  statement of net assets in  liquidation  as of
March 31,  2000 is  approximately  $114,000  of costs,  net of income,  that the
Managing  General  Partner  estimates  will be  incurred  during  the  period of
liquidation  based  on the  assumption  that  the  liquidation  process  will be
completed by September 30, 2000.  Because the success in  realization  of assets
and the  settlement of liabilities  is based on the Managing  General  Partner's
best estimates,  the liquidation  period may be shorter than projected or it may
be extended beyond the projected period.

Note B - Transfer of Control

Pursuant  to a series  of  transactions  which  closed  on  October  1, 1998 and
February 26, 1999,  Insignia Financial Group, Inc. and Insignia Properties Trust
merged into Apartment  Investment and Management Company  ("AIMCO"),  a publicly
traded real estate investment trust, with AIMCO being the surviving  corporation
(the "Insignia Merger").  As a result, AIMCO acquired 100% ownership interest in
the Managing General Partner. The Managing General Partner does not believe that
this  transaction  has had or will have a  material  effect on the  affairs  and
operations of the Partnership.

<PAGE>

Note C - Transactions with Affiliated Parties

The  Partnership  has no employees  and is  dependent  on the  Managing  General
Partner  and  its  affiliates  for  the  management  and  administration  of all
partnership activities.  The Partnership Agreement provides for certain payments
to affiliates for services and as reimbursement of certain expenses  incurred by
affiliates on behalf of the Partnership.

The following  transactions with affiliates of the Managing General Partner were
incurred during the three month periods ended March 31, 2000 and 1999:

                                                                  2000      1999
                                                                  (in thousands)
 Property management fees (included in operating expenses)        $ 41      $ 39
 Reimbursement for services of affiliates (included in
   investment properties, operating and general
   and administrative expenses)                                     34        52

During  the three  months  ended  March 31,  2000 and  1999,  affiliates  of the
Managing General Partner were entitled to receive 5% of gross receipts from both
of the  Partnership's  residential  properties  as  compensation  for  providing
property   management   services.   The  Partnership  paid  to  such  affiliates
approximately  $41,000 and $39,000 for the three months ended March 31, 2000 and
1999, respectively.  For the Partnership's commercial properties, these services
were provided by an unrelated  party for the three month periods ended March 31,
2000 and 1999.

Affiliates of the Managing General Partner received reimbursement of accountable
administrative  expenses amounting to approximately  $34,000 and $52,000 for the
three months ended March 31, 2000 and 1999, respectively.

AIMCO and its affiliates  currently own 3,601 limited  partnership  units in the
Partnership  representing  5.826% of the  outstanding  units.  A number of these
units were acquired  pursuant to tender offers made by AIMCO or its  affiliates.
It is possible  that AIMCO or its  affiliates  will make one or more  additional
offers to acquire  additional limited  partnership  interests in the Partnership
for cash or in exchange for units in the operating  partnership of AIMCO.  Under
the  Partnership  Agreement,  unitholders  holding a  majority  of the Units are
entitled  to take action  with  respect to a variety of matters.  When voting on
matters,  AIMCO would in all  likelihood  vote the Units it acquired in a manner
favorable  to the  interest of the  Managing  General  Partner  because of their
affiliation with the Managing General Partner.

Note D - Contingency

On January 24,  1990,  a  settlement  agreement  was executed by and between the
Partnership  and certain  defendants in  connection  with legal  proceedings  at
Commonwealth  Centre.   Lincoln  Property  Company   ("Lincoln"),   one  of  the
defendants,  provided the  Partnership  with a deficiency  certificate  totaling
$1,250,000 pursuant to Lincoln's company-wide debt restructuring plan. Effective
December 31, 1994, the obligators under this collateral pool agreement exercised
their  right to extend  the  maturity  date of the  deficiency  certificates  to
December 31, 1997.  The senior  obligators  have accepted an offer to settle the
outstanding  amounts due from Lincoln at a discounted rate. The Managing General
Partner  was  obligated  to accept  the  initial  settlement  which  equated  to
approximately  $256,000.  Prior  to this  settlement,  the  Partnership  had not
recorded a receivable  on the financial  statements  due to the  uncertainty  of
receiving any funds. The initial settlement related to the cash collateral pool,
and the Partnership  received further funds of approximately  $45,000 during the
remaining  months of 1998 as well as  approximately  $147,000  during  the three
months ended March 31, 1999.  It is  anticipated  this will be the final payment
received by the Partnership.

With receipt of this  settlement,  the  Partnership has recorded income from the
settlement in the financial  statements.  The current  settlement relates to the
cash available to distribute in the collateral pool.

Note E - Segment Reporting

Description  of the types of products  and  services  from which the  reportable
segment derives its revenues:

The  Partnership  had  two  reportable  segments:   residential  properties  and
commercial  properties.  The Partnership's  residential properties consist of an
apartment  complex located in Florida and in one South Carolina,  which was sold
subsequent to March 31, 2000. The  Partnership  rents apartment units to tenants
for terms that are typically  twelve  months or less.  The  commercial  property
segment  consists of two office  complexes  in North  Carolina  and Kansas.  The
Partnership  leases  office  space for terms  that  typically  exceed  one year.
Effective  December 31, 1999, the Partnership  adopted the liquidation  basis of
accounting  (see  "Note  A -  Basis  of  Presentation").  As a  result,  segment
information is only provided for the three month period ended March 31, 1999.

Measurement of segment profit or loss:

The  Partnership  evaluates  performance  based on segment  profit (loss) before
depreciation.  The accounting policies of the reportable segment are the same as
those of the  Partnership  as described in  Partnership's  Annual Report on Form
10-KSB for the year ended December 31, 1999.

Factors management used to identify the enterprise's reportable segment:

The  Partnership's  reportable  segment  consists of investment  properties that
offer different products and services.  The reportable segments are each managed
separately  because they  provide  distinct  services  with  different  types of
products and customers.

Segment  information for the three month period ended March 31, 1999 is shown in
the  tables  below (in  thousands).  The  "Other"  column  includes  partnership
administration  related  items and  income  and  expense  not  allocated  to the
reportable segments.
<TABLE>
<CAPTION>

                                Residential     Commercial       Other       Totals

<S>                                <C>              <C>            <C>      <C>
Rental income                      $  724           $ 120          $ --     $ 1,937
Other income                           27               2            83         112
Income from settlement                 --              --           147         147
Interest expense                       --              --           628         628
Depreciation                          115             310            --         425
General and administrative
  expense                              --              --           303         303
Segment profit (loss)                 277             382          (701)        (42)
Total assets                       10,658          21,541         9,840      42,039
Capital expenditures for
  investment properties                67              43            --         110
</TABLE>

Note F - Sale of Investment Properties

On March 27, 2000, the Partnership sold Linpro Park to an unaffiliated party for
$9,500,000.  The net sales proceeds of  approximately  $9,002,000  were directly
wired to the Indenture Trustee as required by the forbearance agreement.

On April 7, 2000, the Partnership sold The Corners Apartments to an unaffiliated
third  party  for   approximately   $4,000,000.   The  net  sales   proceeds  of
approximately  $3,712,000  were  wired  directly  to the  Indenture  Trustee  as
required by the forbearance agreement.

On May 8, 2000, the Partnership  sold Metcalf 103 Office Park to an unaffiliated
third party for approximately  $3,120,000.  The net sales proceeds of $2,878,000
were wired  directly to the  Indenture  Trustee as  required by the  forbearance
agreement.

Note G - Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  the Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging  the  acquisition  by Insignia  Financial  Group,  Inc.
("Insignia")  and  entities  which  were,  at one time,  affiliates  of Insignia
("Insignia  Affiliates") of interests in certain general partner entities,  past
tender offers by Insignia  Affiliates to acquire limited  partnership units, the
management of partnerships  by Insignia  Affiliates and the Insignia Merger (see
"Note B - Transfer  of  Control").  The  plaintiffs  seek  monetary  damages and
equitable relief, including judicial dissolution of the Partnership. On June 25,
1998,  the Managing  General  Partner  filed a motion  seeking  dismissal of the
action.  In lieu of  responding  to the  motion,  the  plaintiffs  have filed an
amended  complaint.  The Managing General Partner filed demurrers to the amended
complaint which were heard February 1999.  Pending the ruling on such demurrers,
settlement negotiations commenced. On November 2, 1999, the parties executed and
filed a  Stipulation  of  Settlement,  settling  claims,  subject to final court
approval, on behalf of the Partnership and all limited partners who own units as
of November 3, 1999.  Preliminary  approval of the  settlement  was  obtained on
November 3, 1999 from the Superior Court of the State of  California,  County of
San Mateo, at which time the Court set a final approval hearing for December 10,
1999.  Prior to the  December  10,  1999  hearing  the  Court  received  various
objections to the settlement,  including a challenge to the Court's  preliminary
approval based upon the alleged lack of authority of class  plaintiffs'  counsel
to enter the settlement.  On December 14, 1999, the Managing General Partner and
its affiliates terminated the proposed settlement. Certain plaintiffs have filed
a motion to  disqualify  some of the  plaintiffs'  counsel  in the  action.  The
Managing  General  Partner does not anticipate  that costs  associated with this
case will be material to the Partnership's overall operations.

The  Partnership is unaware of any other pending or outstanding  litigation that
is not of a routine nature arising in the ordinary course of business.

<PAGE>

ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

The  matters  discussed  in this Form  10-QSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions,   competitive  and  regulatory   matters,   etc.)  detailed  in  the
disclosures  contained  in this  Form  10-QSB  and the  other  filings  with the
Securities and Exchange  Commission made by the  Partnership  from time to time.
The  discussion  of  the  Partnership's  business  and  results  of  operations,
including  forward-looking  statements pertaining to such matters, does not take
into account the effects of any changes to the Registrant's business and results
of operations.  Accordingly,  actual results could differ  materially from those
projected in the forward-looking  statements as a result of a number of factors,
including those identified herein.

The Partnership's  investment  properties consist of two apartment complexes and
two business parks. The following table sets forth the average  occupancy of the
properties for the three months ended March 31, 2000 and 1999:

                                                   Average Occupancy

      Property                                      2000       1999

      Metcalf 103 Office Park (1)                    90%        98%
         Overland Park, Kansas
      Highland Park Commerce Center (2)              84%        94%
         Charlotte, North Carolina
      Harbor Club Downs                              96%        96%
         Palm Harbor, Florida
      The Corners Apartments (3)                     95%        92%
         Spartanburg, South Carolina

(1)   The decrease in occupancy at Metcalf 103 Office Park is due to the loss of
      three tenants over the past twelve months.

(2)   The decrease in occupancy at Highland Park  Commerce  Center is due to the
      loss of seven tenants over the past twelve months  occupying 17,885 square
      feet, which represents approximately 16% of the total space.

(3)   The increase in occupancy at The Corners Apartments is due to an increased
      marketing effort and a strong local economy.

As of December  31,  1999,  Century  Properties  Fund XX (the  "Partnership"  or
"Registrant")  adopted the  liquidation  basis of accounting due to the imminent
loss of its remaining investment properties. Pursuant to the terms of the Notes,
the  Partnership  was  required to pay interest at a rate of 4% per annum on the
Notes,  and accrue the  additional 4% per annum due on the Notes.  The Notes are
secured by all of the Partnership's  properties.  The Notes, which had a balance
of principal  and accrued  interest of  approximately  $37,003,000  at March 31,
2000, matured on November 30, 1998. As a result, the Partnership is currently in
default under the Nonrecourse Promissory Notes. The Managing General Partner has
contacted the indenture  trustee and entered a forbearance  agreement on October
29,  1999.  In turn,  the  Partnership  agreed to (a)  deliver to the  indenture
trustee for the benefit of the note holders all of the  accumulated  cash of the
Partnership,  less certain  reserves and  anticipated  operating  expenses,  (b)
market all of its  properties  for sale,  (c) deliver all cash proceeds from any
sales to the  indenture  trustee  until the notes  are fully  satisfied  and (d)
comply with the  reporting  requirements  under the  indenture.  It is uncertain
whether the sale of the Partnership's  assets will generate  sufficient proceeds
to pay off the Nonrecourse  Promissory Notes in full. If the Partnership  cannot
sell its properties for sufficient  value,  in accordance  with the terms of the
forbearance  agreement,  it  is  likely  that  the  Partnership  will  lose  its
properties  through  delivery to an auctioneer who would sell the assets for the
benefit of the Note holders.

As a result of the  decision  to  liquidate  the  Partnership,  the  Partnership
changed its basis of  accounting  for its  financial  statements at December 31,
1999 to the  liquidation  basis of  accounting.  Consequently,  assets have been
valued at estimated net realizable  value and liabilities are presented at their
estimated   settlement   amounts.   The  valuation  of  assets  and  liabilities
necessarily  requires many estimates and  assumptions  and there are substantial
uncertainties in carrying out the liquidation.  The actual realization of assets
and  settlement of liabilities  could be higher or lower than amounts  indicated
and is based upon the Managing General Partner's estimates as of the date of the
financial statements.

Included in  liabilities  in the  statement of net assets in  liquidation  as of
March 31,  2000 is  approximately  $114,000  of costs,  net of income,  that the
Managing  General  Partner  estimates  will be  incurred  during  the  period of
liquidation  based  on the  assumption  that  the  liquidation  process  will be
completed by September 30, 2000.  Because the success in  realization  of assets
and the  settlement of liabilities  is based on the Managing  General  Partner's
best estimates,  the liquidation  period may be shorter than projected or it may
be extended beyond the projected period.

On March 27, 2000, the Partnership sold Linpro Park to an unaffiliated party for
$9,500,000.  The net sales proceeds of  approximately  $9,002,000  were directly
wired to the Indenture Trustee as required by the forbearance agreement.

On April 7, 2000, the Partnership sold The Corners Apartments to an unaffiliated
third  party  for   approximately   $4,000,000.   The  net  sales   proceeds  of
approximately  $3,712,000  were  wired  directly  to the  Indenture  Trustee  as
required by the forbearance agreement.

On May 8, 2000, the Partnership  sold Metcalf 103 Office Park to an unaffiliated
third  party  for   approximately   $3,120,000.   The  net  sales   proceeds  of
approximately  $2,878,000  were  wired  directly  to the  Indenture  Trustee  as
required by the forbearance agreement.

As part of the ongoing  business plan of the  Partnership,  the Managing General
Partner monitors the rental market  environment of its investment  properties to
assess the feasibility of increasing rents,  maintaining or increasing occupancy
levels and protecting  the  Partnership  from increases in expenses.  As part of
this plan, the Managing General Partner attempts to protect the Partnership from
the burden of  inflation-related  increases in expenses by increasing  rents and
maintaining a high overall  occupancy  level.  However,  due to changing  market
conditions,  which  can  result  in the use of  rental  concessions  and  rental
reductions to offset softening market conditions, there is no guarantee that the
Managing General Partner will be able to sustain such a plan.

Metcalf Office Park

During the three months ended March 31, 2000, the  Partnership  did not complete
any capital  improvements  at Metcalf Office Park. This property was sold May 8,
2000.

Highland Park Commerce Center

During the three months ended March 31, 2000, the  Partnership  did not complete
any capital  improvements  at Highland  Park  Commerce  Center.  The property is
currently  being marketed for sale;  therefore,  no funds have been budgeted for
capital  improvements for the year 2000.  Capital  improvements  will be made as
necessary until the property is sold.

Harbor Club Downs

During  the  three  months  ended  March 31,  2000,  the  Partnership  completed
approximately $8,000 of capital improvements at Harbor Club Downs, consisting of
appliance  replacements and major  landscaping.  These  improvements were funded
from  operating  cash flow.  The property is currently  being marketed for sale;
therefore,  no funds have been  budgeted for capital  improvements  for the year
2000. Capital improvements will be made as necessary until the property is sold.

The Corners Apartments

During  the  three  months  ended  March 31,  2000,  the  Partnership  completed
approximately  $19,000  in  capital  improvements  at  The  Corners  Apartments,
consisting of carpet replacement,  major landscaping, water heater replacements,
and appliance replacements. This property was sold April 7, 2000.

<PAGE>

                           PART II - OTHER INFORMATION

ITEM 1.     LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  the Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging  the  acquisition  by Insignia  Financial  Group,  Inc.
("Insignia")  and  entities  which  were,  at one time,  affiliates  of Insignia
("Insignia  Affiliates") of interests in certain general partner entities,  past
tender offers by Insignia  Affiliates to acquire limited  partnership units, the
management of partnerships  by Insignia  Affiliates and the Insignia Merger (see
"Part 1 - Financial Information, Item 1. Financial Statements, Note B - Transfer
of  Control").  The  plaintiffs  seek  monetary  damages and  equitable  relief,
including  judicial  dissolution  of the  Partnership.  On June  25,  1998,  the
Managing General Partner filed a motion seeking dismissal of the action. In lieu
of responding to the motion, the plaintiffs have filed an amended complaint. The
Managing  General  Partner filed  demurrers to the amended  complaint which were
heard  February  1999.   Pending  the  ruling  on  such  demurrers,   settlement
negotiations  commenced.  On November 2, 1999, the parties  executed and filed a
Stipulation of Settlement,  settling claims, subject to final court approval, on
behalf of the Partnership and all limited  partners who own units as of November
3, 1999. Preliminary approval of the settlement was obtained on November 3, 1999
from the  Superior  Court of the State of  California,  County of San Mateo,  at
which time the Court set a final approval  hearing for December 10, 1999.  Prior
to the December 10, 1999 hearing the Court  received  various  objections to the
settlement, including a challenge to the Court's preliminary approval based upon
the  alleged  lack of  authority  of class  plaintiffs'  counsel  to  enter  the
settlement.  On  December  14,  1999,  the  Managing  General  Partner  and  its
affiliates  terminated the proposed settlement.  Certain plaintiffs have filed a
motion to disqualify some of the plaintiffs' counsel in the action. The Managing
General Partner does not anticipate that costs associated with this case will be
material to the Partnership's overall operations.

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  Exhibit 27, Financial Data Schedule, is filed as an exhibit to
                  this report.

            b)    Reports on Form 8-K:

                  None filed during the quarter ended March 31, 2000.

<PAGE>


                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the Registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                                    CENTURY PROPERTIES FUND XX

                                    By:   FOX PARTNERS III
                                          Its General Partner

                                    By:   FOX CAPITAL MANAGEMENT CORPORATION
                                          Its Managing General Partner

                                    By:   /s/Patrick J. Foye
                                          Patrick J. Foye
                                          Executive Vice President

                                    By:   /s/Martha L. Long
                                          Martha L. Long
                                          Senior Vice President
                                          and Controller

                                    Date: