PAINE WEBBER QUALIFIED PLAN PROPERTY FUND TWO LP
15-12G, 1998-11-25
REAL ESTATE INVESTMENT TRUSTS
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                                     FORM 15
      [Adopted in Release No. 34-20784 (Paragraph 83,508), March 22, 1984,
                   effective March 30, 1984, 49 F.R., 12688.]

                    U. S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                     FORM 15

Certification  and Notice of Termination of Registration  under Section 12(g) of
the Securities  Exchange Act of 1934 or Suspension of Duty to File Reports Under
Sections 13 and 15 (d) of the Securities Exchange Act of 1934.

                         Commission File Number: 0-17146


                PAINE WEBBER QUALIFIED PLAN PROPERTY FUND TWO, LP
             (Exact name of registrant as specified in its charter)
             ------------------------------------------------------

265  Franklin  Street,  Boston,  Massachusetts  02110        (617)  439-8118
- --------------------------------------------------------------------------------
(Address,including  zip code,  and  telephone  number,  including  area code, of
registrant's principal executive offices)
         

                      Units of Limited Partnership Interest
                      -------------------------------------
            (Title of each class of securities covered by this Form)

                                      None

(Titles of all other  classes  of  securities  for which a duty to file  reports
under section 13 (a) or 15 (d) remains)


<PAGE>



Please place an X in the box(es) to designate the appropriate rule  provision(s)
relied upon to terminate or suspend the duty to file reports:


Rule 12g-4(a) (1) (i)               [  x  ]     Rule 12h-3(b) (1) (ii)  [     ]
Rule 12g-4(a) (1) (ii)              [     ]    Rule 12h-3(b) (2) (i)    [     ]
Rule 12g-4(a) (2) (i)               [     ]    Rule 12h-3(b) (2) (ii)   [     ]
Rule 12g-4(a) (2) (ii)              [     ]    Rule 15d-6               [     ]
Rule 12h-3(b) (1) (i)               [  x  ]

Approximate number of holders of record as of the certification or notice date:
None

Pursuant to the  requirements  of the  Securities  Exchange  Act of Paine Webber
Qualified Plan Property Fund Two, LP has caused this  certification/notice to be
signed on its behalf by the undersigned duly authorized person.

DATE: November 25, 1998           Paine Webber Qualified Plan Property Fund 
                                                  Two, LP

                                    By:  Second Qualified Properties, Inc.
                                         ---------------------------------
                                         Managing General Partner

                            By: /s/ Walter V. Arnold
                                --------------------
                            Name: Walter V. Arnold
                            Title:  Senior Vice President
                                    and Chief Financial Officer



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