This was taken from the Pirate 4x4 Discussion Forums about converting a NP205 T-Case to be converted to run offset.  Normally they run with a centered rear axle.  The gearing for the 205 typically "sucks" at around 2:1, and there are not a whole lot of aftermarket options because the t-case is relatively small.  However, they can be converted to offset front and rear to run factory axles (see below about the conversion).

Posted by Charlie Aarons of Anchorage, Alaska to the Pirate 4x4 Board:

Message 1:
In order to accomplish a NP205 with both offset and centered rear outputs, it's necessary to use the offset front and rear output shafts of a NP200. That's the M37 and M715 transfer case. Also, the front wheel drive shift rod and fork must be replaced with the NP200's. The end result is a NP205 case with coupled centered and offset rear outputs and shiftable four wheel drive in high and low ranges. This could be used in a Land Cruiser with a HD drivetrain (like NV4500). In my case I'm going to use it in my M37 coupled to a NP203 reducer box from Wagoner (3.2:1). The reducer box is from a divorced Ford application so the whole 200/205/203 will be divorced from the Clark 280VO 5spd. Anyways, it works.   Charlie

Message 2:
Don't have any pics but it's really simple. You have to replace the front output shaft and that big flat 8 bolt cover with the NP200's two front and rear output shafts and the NP200's rear bearing retainer. Same bolt pattern. And the NP200's 2WD/4WD shift fork/rod. The 205's high/low shift rod/fork stays. 
The key ingredient is the NP200's two-piece output shaft. I couldn't use the 200's E-brake on the centered output becuase the shift dog teeth are male on the 200 and female on the 205, so the input shaft/center output had to stay all 205. 

The other key thing is that the idler shaft and all the gears in fact are totally interchangeable, and the 200's outout shaft and bearing retainer fit perfectly in the 205 case. 

It'll have two separate shift levers, one for high/low, one for 2WD/4WD. And of course one for 3.2 ultra-low (184:1 in my case). Hmmm, I could put a Klune in front of the 203 and go 500:1.... 
Charlie

Message 3:
This could be done with 205-only parts by taking the input shaft and center output, and rear bearing retainer from the "top" of a DIVORCED NP205. This would be to get a shaft splined for a yoke. It would be necessary to machine the teeth off the rear input gear so the gear didn't engage the rear idler gear in the offset position. Might work if the shift dog/clutch still engaged. 
The rationale for doing this would be if you wanted a fine spline front output or if you had a pile of NP205s around and no NP200. 
Charlie