FORM 15
         (As adopted in Release No. 34-20784, March 22, 1984, 49 F.R. 12688)

                         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 0-10362

                             McCombs Properties V, Ltd.
               (Exact name of registrant as specified in its charter)

                            One Insignia Financial Plaza
                          Greenville, South Carolina 29602
                           Telephone Number (864) 239-1000
     (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)

     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)    ( )

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

          Pursuant to the requirements of the Securities Exchange Act of 1934,
McCombs Properties V, Ltd. has caused this certification/notice to be signed on
its behalf by the undersigned duly authorized person.

                                          MCCOMBS PROPERTIES V, LTD.

                                          BY:  CRPTEX, Inc.
                                               General Partner

     DATE: September 30, 1996                 BY:  /s/ Carroll D. Vinson
                                                  Carroll D. Vinson
                                                  President

Instruction:  This form is required by Rules 12g-4, 12h-3 and 15d-6 of the
General Rules and Regulations under the  Securities Exchange Act of 1934.
The registrant shall file with the Commission three copies of Form 15,  one
of which shall be manually signed.  It may  be signed by an officer of  the
registrant, by counsel or by any other duly authorized person. The name and
title of the person signing  the form shall be  typed or printed under  the
signature.