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: April 29, 1997
                       (Date of earliest event reported)


                         INSIGNIA FINANCIAL GROUP, INC.
             (Exact name of registrant as specified in its charter)


         DELAWARE                     0-19066                  13-3591193
(State or other jurisdiction of     (Commission              (I.R.S. Employer
incorporation or organization)       File Number)              Identification
                                                                  Number)

                          One Insignia Financial Plaza
                              Post Office Box 1089
                        Greenville, South Carolina 29602
                    (Address of Principal Executive Office)


       Registrant's telephone number, including area code: (864) 239-1000


                     ______________________________________



<PAGE>



Item 5. Other Events

     On April 29, 1997,  Insignia Financial Group, Inc.  ("Insignia")  completed
the  acquisition of a portfolio of property  management  rights from The Related
Group of  Florida  ("RGF").  Insignia  also  agreed to acquire  certain  general
partner interests in the partnerships  owning some of the managed  properties of
RGF later in 1997.


Item 7.  Financial Statement and Exhibits

        (c)     Exhibits

    Exhibit No.

     99.1               Press Release dated April 29, 1997



<PAGE>



                                   SIGNATURES


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


                                        INSIGNIA FINANCIAL GROUP, INC.

 

                                        By:     /s/ John K. Lines       
                                        --------------------------------
                                                John K. Lines
                                                General Counsel

Date:  May 14, 1997
[{"type": "8-K", "sequence": "1", "description": "ACQUISITION OF RELATED COMPANIES OF FLORIDA", "secsgml_size_bytes": 2533}]
{"company-data": {"conformed-name": "INSIGNIA FINANCIAL GROUP INC", "cik": "0000870480", "assigned-sic": "6552", "irs-number": "133591193", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13962", "film-number": "97603855"}, "business-address": {"street1": "ONE INSIGNIA FINANCIAL PLZ", "street2": "PO BOX 1089", "city": "GREENVILLE", "state": "SC", "zip": "29602", "phone": "8032391000"}, "mail-address": {"street1": "ONE INSIGNIA FINANCIAL PLZ", "street2": "PO BOX 1089", "city": "GREENVILLE", "state": "SC", "zip": "29602"}, "former-company": {"former-conformed-name": "METSOUTH FINANCIAL CORPORATION", "date-changed": "19600201"}}
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: April 29, 1997
                       (Date of earliest event reported)

                         INSIGNIA FINANCIAL GROUP, INC.
             (Exact name of registrant as specified in its charter)

         DELAWARE                     0-19066                  13-3591193
(State or other jurisdiction of     (Commission              (I.R.S. Employer
incorporation or organization)       File Number)              Identification
                                                                  Number)

                          One Insignia Financial Plaza
                              Post Office Box 1089
                        Greenville, South Carolina 29602
                    (Address of Principal Executive Office)

       Registrant's telephone number, including area code: (864) 239-1000

                     ______________________________________
Item 5. Other Events

     On April 29, 1997,  Insignia Financial Group, Inc.  ("Insignia")  completed
the  acquisition of a portfolio of property  management  rights from The Related
Group of  Florida  ("RGF").  Insignia  also  agreed to acquire  certain  general
partner interests in the partnerships  owning some of the managed  properties of
RGF later in 1997.

Item 7.  Financial Statement and Exhibits

        (c)     Exhibits

    Exhibit No.

     99.1               Press Release dated April 29, 1997
SIGNATURES

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

                                        INSIGNIA FINANCIAL GROUP, INC.

 

                                        By:     /s/ John K. Lines       
                                        --------------------------------
                                                John K. Lines
                                                General Counsel

Date:  May 14, 1997