FAQ

1. Can I complete a Transfer on Death Form prior to my death in preparation for my death?

Mellon uses a Transfer of Ownership Form which is used to designate a Transfer on Death (TOD) beneficiary. You may fill out a Transfer of Ownership Form as long as the beneficiary is an heir to the Atrisco Land Grant. This will allow you to retain ownership of the units until your death, at which time the units will pass to your designated beneficiary outside of probate.


2. Can I sell my units?

Due to Atrisco Oil & Gas’s registration with the SEC, the units may not be purchased or sold.


3. Can I transfer my units during my life (e.g. inter vivos transfer)?

Your units may be transferred to an heir of the Atrisco Land Grant upon presentation of your unit certificate and execution of a Transfer of Stock Ownership Form. This is called an inter vivos transfer. If you are transferring more than 250 units, you will have to obtain a Medallion Signature Guarantee from a bank, credit union, savings and loan or U.S. brokerage firm, just as you did when you transferred your Westland Development Co., Inc. stock.


4. Does Mellon charge a fee to transfer my units?

Mellon currently does not charge a fee to transfer your units.


5. If I make no arrangements for transfer of units prior to my death, how will the units be transferred upon my death?

If you own 50 units or fewer, your heirs will need to present your original unit certificate and complete a Transfer of Stock Ownership Form. If you own more than 50 units, your heirs will need your original unit certificate, a completed Transfer of Stock Ownership Form, and either a certified copy of the Certificate of Appointment of Executor dated within one year of the transfer or the signature on the Transfer of Stock Ownership Form must have a Medallion Signature Guarantee. If the estate has been probated and closed, your heirs will need to include a certified copy of the Final Account and Distribution showing how the estate’s assets were distributed.

If the estate is NOT probated, you can request that a Waiver of Probate bond be issued. There will be a fee which is determined by the number of units being transferred.


6. What are the units worth?

The units currently have nominal value. If mineral assets are discovered, this will likely increase the value of the units.


7. Why am I receiving this certificate?

As part of the merger agreement with SunCal Companies and Westland Development Co., Inc., Atrisco Oil & Gas LLC was formed to allow Westland’s former shareholders to receive a portion of income from any mineral interests recovered on the property. The issuance was done on a one for one basis. You have received the same number of units in Atrisco Oil & Gas as you owned in shares of Westland Development Co., Inc.


8. Will I have to purchase a bond to replace the certificate if it is lost, destroyed or cannot be located?

Your unit certificate could become valuable, therefore, you should keep it in a safe place. If it is lost, destroyed or cannot be located, you could be required to purchase a bond to replace it.