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FORM 3 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 OMB APPROVAL
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES OMB No. 3235-0104
Expires: February 1, 1994
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Estimated average
Section 17(a) of the
Public Utility Holding Company Act of 1935 or Section 30(f) burden hours per
of the Investment Company Act of 1940 response 0.5
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1) Name and Address of Reporting Person 2) Date of Event 4) Issuer Name and Ticker or Trading Symbol
WILLIAM H. JARRARD, JR. Requiring Statement
(Month/Day/Year) SHELTER PROPERTIES VII, L.P.
MARCH 1, 1998
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(Last) (First) (MI) 3) IRS Or Social 5) Relationship of Reporting Person to Issuer 6) If Amendment, Date
C/O INSIGNIA PROPERTIES, L.P. Security Number of Original
ONE INSIGNIA FINANCIAL PLAZA of Reporting X Director X 10% Owner (Month/Day/Year)
P.O. BOX 1089 Person ___ Office ___ Other
(Street) (Voluntary) (give title below) (specify below) N/A
N/A PRESIDENT & DIRECTOR
GREENVILLE, SC 29602 --------------------
(City) (State) (Zip)
TABLE 1 - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1) Title of Security 2) Amount of Securities 3) Ownership 4) Nature of Indirect Beneficial Ownership
(Instr. 3) Beneficially Owned Form: Direct (Instr. 5)
(Instr. 4) (D) or Indirect
(I) (Inst. 5)
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LIMITED PARTNERSHIP UNITS 2.00 N/A N/A
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2,178 N/A N/A
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Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
SEC 1473 (3/91)
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
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(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1) Title of 2) Date Exercisable 3) Title and Amount 4) Conversion 5) Ownership 6) Nature of Indirect
Derivative Security and Expiration of Securities or Exercise Form of Beneficial Ownership
(Inst. 3) Date Underlying Derivative Price of Derivative (Instr. 5)
(Month/Day/Year) Security Derivative Security:
(Instr. 4) Security Direct (D)
---------------------- --------------------- or (I) Indirect
Date Expiration Amount or (Instr. 5)
Exercisable Date Title Number
of Shares
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Explanation of Responses:
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/s/William H. Jarrard, Jr. March 10, 1998
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**Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute
Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
SEC 1473 (3/91)
