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<head><title>UNITED STATES</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:5px; MARGIN-BOTTOM:0px; BORDER-TOP:#000000 9px double; PADDING-TOP:1px" 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): June 30, 2015</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 III</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=244> <td width=121> <td width=123> <td width=242> <td width=2 /> </tr><tr> <td width=244 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center><b>California</b></p></td> <td width=244 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center><b>0-10673</b></p></td> <td width=244 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center><b>95-3547611</b></p></td></tr> <tr> <td width=244 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center>(State or Other Jurisdiction of</p></td> <td width=244 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center>(Commission File Number)</p></td> <td width=244 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center>(I.R.S. Employer</p></td></tr> <tr> <td width=244 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center>Incorporation)</p></td> <td width=244 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center><br></p></td> <td width=244 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center>Identification No.)</p></td></tr> <tr> <td width=366 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=366 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=2 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=732 colspan=4 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-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> <td width=2 colspan=4 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px">&nbsp;</p></td></tr> <tr> <td width=732 colspan=4 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center>(Address of Principal Executive Offices, including zip code)</p></td> <td width=2 colspan=4 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px">&nbsp;</p></td></tr> <tr> <td width=366 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=366 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px>&nbsp;</p></td> <td width=2 colspan=2 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px>&nbsp;</p></td></tr></table> <div style=WIDTH:720px> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><b>Registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Telephone Number, Including Area Code: &nbsp;(720) 387-8135</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-TOP:6px; MARGIN-BOTTOM:6px" align=justify>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:6px; MARGIN-BOTTOM:6px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY:Arial Unicode MS,Arial; 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:6px; MARGIN-BOTTOM:6px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY:Arial Unicode MS,Arial; 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:6px; MARGIN-BOTTOM:6px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY:Arial Unicode MS,Arial; 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:6px; MARGIN-BOTTOM:6px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="FONT-FAMILY:Arial Unicode MS,Arial; 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 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=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="LINE-HEIGHT:4pt; MARGIN-TOP:5px; MARGIN-BOTTOM:0px; BORDER-TOP:#000000 9px double; PADDING-TOP:1px" align=justify><br><br>&nbsp;</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-TOP:0px; MARGIN-BOTTOM:-4pt; FONT-SIZE:4pt" /> <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" align=justify><b>Entry into a Material Definitive Agreement</b></p> <p style="MARGIN:0px; CLEAR:left" align=justify><br></p> <p style="MARGIN-TOP:10px; MARGIN-BOTTOM:0px" align=justify>Real Estate Associates Limited III, a California limited partnership (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>), held a 99% limited partnership interest in Marina del Rey Limited Dividend Partnership Associates, a Massachusetts limited partnership (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Partnership<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>). &nbsp;On June 30, 2015, the Registrant entered into a Second Amendment to the Amended and Restated Certificate and Agreement of Limited Partnership of Marina del Rey Limited Dividend Partnership Associates (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Amendment<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>) by and among the Registrant, Puerto Rico Management, LLC, a California limited liability company, the General Partner of the Partnership (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>PRM<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>), and Vicente Geigel Polanco LP, LLC, a Delaware limited liability company (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Assignee<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>), pursuant to which Registrant assigned 100% of its interests in the Partnership to the Assignee in exchange for a payment of $400,000. &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:10px; 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:10px; MARGIN-BOTTOM:0px; CLEAR:left" align=justify>Pursuant to the terms of the Amendment, on June 30, 2015, the registrant transferred all of its interests in the Partnership to the Assignee. &nbsp;These interests represented all of the remaining Local Limited Partnership assets held by the Registrant.</p> <p style="MARGIN-TOP:10px; MARGIN-BOTTOM:0px" align=justify>As a result of the transfer of the Registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s interests in the Partnership, the Registrant received approximately $400,000 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></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=center><br><br></p> <p style=MARGIN:0px align=center>2</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=center><b>SIGNATURE</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="TEXT-INDENT:19px; MARGIN:0px" align=justify>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="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=402 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center>REAL ESTATE ASSOCIATES LIMITED III&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p></td></tr> <tr> <td width=283 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=402 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=center><br></p></td></tr> <tr> <td width=283 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=402 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=justify><br></p></td></tr> <tr> <td width=283 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=402 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-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" align=justify>National Partnership Investments, LLC</p> <p style="TEXT-INDENT:48px; MARGIN:0px; PADDING-LEFT:70px; CLEAR:left" align=justify>Corporate General Partner</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; PADDING-LEFT:70px" align=justify>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="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=402 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-LEFT:70px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Joseph Dryden</u></p></td></tr> <tr> <td width=283 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=402 style="PADDING-BOTTOM:0px; MARGIN-TOP:0px; PADDING-LEFT:4px; PADDING-RIGHT:4px; PADDING-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-LEFT:70px" align=justify>&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;July 6, 2015</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></div></body>
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UNITED STATES
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): June 30, 2015
REAL ESTATE ASSOCIATES LIMITED III
(Exact name of registrant as specified in its charter)
California
0-10673
95-3547611
(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 III, a California limited partnership (the
"
Registrant
"
), held a 99% limited partnership interest in Marina del Rey Limited Dividend Partnership Associates, a Massachusetts limited partnership (the
"
Partnership
"
).  On June 30, 2015, the Registrant entered into a Second Amendment to the Amended and Restated Certificate and Agreement of Limited Partnership of Marina del Rey Limited Dividend Partnership Associates (the
"
Amendment
"
) by and among the Registrant, Puerto Rico Management, LLC, a California limited liability company, the General Partner of the Partnership (
"
PRM
"
), and Vicente Geigel Polanco LP, LLC, a Delaware limited liability company (the
"
Assignee
"
), pursuant to which Registrant assigned 100% of its interests in the Partnership to the Assignee in exchange for a payment of $400,000.  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 Amendment, on June 30, 2015, the registrant transferred all of its interests in the Partnership to the Assignee.  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 $400,000 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.
2
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 III
By:
National Partnership Investments, LLC
Corporate General Partner
By:
/s/ Joseph Dryden
Joseph Dryden
V.P. of Finance/CFO
DATED:  July 6, 2015