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<head><title>Form 8-K</title> </head> <body style="MARGIN-TOP:0px; FONT-FAMILY:Times New Roman; COLOR:#000000; FONT-SIZE:10pt"> <div style=WIDTH:720px> <p style="LINE-HEIGHT:4pt; MARGIN-TOP:4px; MARGIN-BOTTOM:0px; BORDER-TOP:#000000 9px double; PADDING-TOP:4px" align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-FAMILY:Times New Roman Bold,Times New Roman; FONT-SIZE:18pt" align=center><b>UNITED STATES</b></p> <p style="MARGIN:0px; FONT-FAMILY:Times New Roman Bold,Times New Roman; FONT-SIZE:18pt" align=center><b>SECURITIES AND EXCHANGE COMMISSION</b></p> <p style=MARGIN:0px align=center><b>Washington, D.C. 20549</b></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=center>_______________</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:18pt" align=center><b>FORM 8-K</b></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=center><b>CURRENT REPORT PURSUANT</b></p> <p style=MARGIN:0px align=center><b>TO SECTION 13 OR 15 (d) OF THE</b></p> <p style=MARGIN:0px align=center><b>SECURITIES EXCHANGE ACT OF 1934</b></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><b>Date of report (Date of earliest event reported): December 31, 2013</b></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:22pt" align=center><b>REAL ESTATE ASSOCIATES LIMITED VII</b></p> <p style=MARGIN:0px align=center><b>(Exact name of registrant as specified in its charter)</b></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=justify><br></p></div> <table style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr height=0 style=FONT-SIZE:0px> <td width=1> <td width=243> <td width=122> <td width=122> <td width=243> <td width=1 /> </tr><tr> <td width=244 colspan=2 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><b>California</b></p></td> <td width=244 colspan=2 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><b>0-13810</b></p></td> <td width=244 colspan=2 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><b>95-3290316</b></p></td></tr> <tr> <td width=244 colspan=2 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center>(State or Other Jurisdiction of</p></td> <td width=244 colspan=2 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center>(Commission File Number)</p></td> <td width=244 colspan=2 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center>(I.R.S. Employer</p></td></tr> <tr> <td width=244 colspan=2 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center>Incorporation)</p></td> <td width=244 colspan=2 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=244 colspan=2 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center>Identification No.)</p></td></tr> <tr> <td width=1 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=366 colspan=2 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=367 colspan=3 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td></tr> <tr> <td width=1 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=733 colspan=5 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><b>P.O. Box 91274</b></p> <p style=MARGIN:0px align=center><b>Los Angeles, California 90009</b></p></td></tr> <tr> <td width=1 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=733 colspan=5 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center>(Address of Principal Executive Offices, including zip code)</p></td></tr> <tr> <td width=1 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=733 colspan=5 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td></tr></table> <div style=WIDTH:720px> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px><b>Registrant&#146;s Telephone Number, Including Area Code: &nbsp;(720) 387-8135</b></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-TOP:5px; MARGIN-BOTTOM:5px">Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </p> <p style="MARGIN-TOP:5px; MARGIN-BOTTOM:5px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY:Wingdings; FONT-SIZE:8pt">&#168;</font> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </p> <p style="MARGIN-TOP:5px; MARGIN-BOTTOM:5px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY:Wingdings; FONT-SIZE:8pt">&#168;</font> &nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p> <p style="MARGIN-TOP:5px; MARGIN-BOTTOM:5px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY:Wingdings; FONT-SIZE:8pt">&#168;</font> &nbsp;Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </p> <p style="MARGIN-TOP:5px; MARGIN-BOTTOM:5px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY:Wingdings; FONT-SIZE:8pt">&#168;</font> &nbsp;Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </p> <p style=MARGIN:0px><br><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px">&nbsp;</p> <p style="LINE-HEIGHT:4pt; MARGIN-TOP:4px; MARGIN-BOTTOM:0px; BORDER-TOP:#000000 9px double; PADDING-TOP:4px" align=justify><br></p> <p style="MARGIN-TOP:0px; WIDTH:96px; MARGIN-BOTTOM:-2px; FLOAT:left"><b>Item 1.01</b></p> <p style="TEXT-INDENT:-2px; MARGIN:0px"><b>Entry into a Material Definitive Agreement</b></p> <p style="MARGIN:0px; CLEAR:left"><br></p> <p style="MARGIN-TOP:8px; MARGIN-BOTTOM:0px" align=justify>Real Estate Associates Limited VII, a California limited partnership (the &#147;Registrant&#148;), held a 99% limited partnership interest in Newton Apartments, Ltd., a Mississippi limited partnership (the &#147;Partnership&#148;). &nbsp;On December 31, 2013, the Registrant entered into an Assignment and Assumption Agreement (the &#147;Assignment Agreement&#148;) by and among the Registrant, Rosewood Apartments Operating, LLC, a California limited liability company, the General Partner of the Partnership (&#147;Rosewood&#148;), Herbert B. Ivison, Jr., an individual and H.I. Family, LLC, a Mississippi limited liability company (together with Mr. Ivison, the &#147;Assignees&#148;), pursuant to which Registrant and Rosewood assigned 100% of their interests in the Partnership to the Assignees in exchange for a payment of $5,000. &nbsp;Following such payment, the Registrant no longer held any interest in the Partnership and had no rights, obligations or liabilities related thereto.</p> <p style="MARGIN-TOP:8px; MARGIN-BOTTOM:-1pt; FONT-SIZE:1pt" /> <p style="MARGIN-TOP:0px; WIDTH:96px; MARGIN-BOTTOM:-2px; FLOAT:left"><b>Item 2.01</b></p> <p style="TEXT-INDENT:-2px; MARGIN:0px" align=justify><b>Completion of Acquisition or Disposition of Assets.</b></p> <p style="MARGIN-TOP:8px; MARGIN-BOTTOM:0px; CLEAR:left" align=justify>Pursuant to the terms of the Assignment Agreement, on December 31, 2013, the registrant transferred all of its interests in the Partnership to H.I. Family, LLC. &nbsp;These interests represented all of the remaining Local Limited Partnership assets held by the Registrant.</p> <p style="MARGIN-TOP:8px; MARGIN-BOTTOM:0px" align=justify>As a result of the transfer of the Registrant&#146;s interests in the Partnership, the Registrant received approximately $5,000 in consideration, all of which is intended to be used by the Registrant for the payment of outstanding payables and deferred management fees owed by the Registrant.</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="TEXT-INDENT:358px; MARGIN:0px" align=justify>1</p> <p style=MARGIN:0px align=justify><br></p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=center><b>SIGNATURE</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="TEXT-INDENT:19px; MARGIN:0px">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.</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <table style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr height=0 style=FONT-SIZE:0px> <td width=283> <td width=402 /> </tr><tr> <td width=283 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=402 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center>REAL ESTATE ASSOCIATES LIMITED VII&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p></td></tr> <tr> <td width=283 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=402 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td></tr> <tr> <td width=283 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=402 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td></tr> <tr> <td width=283 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=402 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-TOP:0px; TEXT-INDENT:70px; WIDTH:118px; MARGIN-BOTTOM:-2px; FLOAT:left">By:</p> <p style="TEXT-INDENT:-2px; MARGIN:0px; PADDING-LEFT:70px">National Partnership Investments, LLC</p> <p style="TEXT-INDENT:48px; MARGIN:0px; PADDING-LEFT:70px; CLEAR:left">Corporate General Partner</p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; PADDING-LEFT:70px">By: &nbsp;<u>/s/ Joseph Dryden&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p></td></tr> <tr> <td width=283 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td><a name=_GoBack /> <td width=402 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-LEFT:70px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joseph Dryden</p></td></tr> <tr> <td width=283 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=402 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-LEFT:70px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;V.P. of Finance/CFO </p></td></tr></table> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; PADDING-LEFT:336px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DATED: &nbsp;January 6, 2013</p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><br><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p></div></body>
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Form 8-K
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): December 31, 2013
REAL ESTATE ASSOCIATES LIMITED VII
(Exact name of registrant as specified in its charter)
California
0-13810
95-3290316
(State or Other Jurisdiction of
(Commission File Number)
(I.R.S. Employer
Incorporation)
Identification No.)
P.O. Box 91274
Los Angeles, California 90009
(Address of Principal Executive Offices, including zip code)
Registrant's Telephone Number, Including Area Code:  (720) 387-8135
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement
Real Estate Associates Limited VII, a California limited partnership (the "Registrant"), held a 99% limited partnership interest in Newton Apartments, Ltd., a Mississippi limited partnership (the "Partnership").  On December 31, 2013, the Registrant entered into an Assignment and Assumption Agreement (the "Assignment Agreement") by and among the Registrant, Rosewood Apartments Operating, LLC, a California limited liability company, the General Partner of the Partnership ("Rosewood"), Herbert B. Ivison, Jr., an individual and H.I. Family, LLC, a Mississippi limited liability company (together with Mr. Ivison, the "Assignees"), pursuant to which Registrant and Rosewood assigned 100% of their interests in the Partnership to the Assignees in exchange for a payment of $5,000.  Following such payment, the Registrant no longer held any interest in the Partnership and had no rights, obligations or liabilities related thereto.
Item 2.01
Completion of Acquisition or Disposition of Assets.
Pursuant to the terms of the Assignment Agreement, on December 31, 2013, the registrant transferred all of its interests in the Partnership to H.I. Family, LLC.  These interests represented all of the remaining Local Limited Partnership assets held by the Registrant.
As a result of the transfer of the Registrant's interests in the Partnership, the Registrant received approximately $5,000 in consideration, all of which is intended to be used by the Registrant for the payment of outstanding payables and deferred management fees owed by the Registrant.
1
SIGNATURE
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.
REAL ESTATE ASSOCIATES LIMITED VII
By:
National Partnership Investments, LLC
Corporate General Partner
By:
/s/ Joseph Dryden
Joseph Dryden
V.P. of Finance/CFO
DATED:  January 6, 2013