What is the 'Depository Trust Company - DTC'. The Depository Trust Company (DTC) is one of the world's largest securities depositories. The DTC, which was founded in 1973 and is based in New York City, is organized as a limited purpose trust company and provides safekeeping through electronic recordkeeping of securities balances.
To be prepetition property, the security interest must attach to the property. A security interest attaches to personal property upon satisfaction of three requirements: (1) the parties have an adequate security agreement, (2) the secured party gives value, and (3) the debtor has rights or the power to transfer rights in the personal property.
The term security interest (lien) refers to an agreement between the vehicle owner and the lender (lien holder), using the vehicle as collateral. While the vehicle title is mailed to the owner of the vehicle, a lien card is mailed to the lender, confirming that their loan is listed on DVS records. Record or remove a lien on a vehicle.