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.
1. Basic Definition. A security interest is a right by a creditor to have a specific item or items of property sold to satisfy the debt owed to the secured party. In order to enforce a security interest against other creditors and in bankruptcy, the security interest must be properly created and perfected. 2. Perfection Generally. The most common example of a security interest is a mortgage on real property. In order to be enforceable against other creditors or the bankruptcy trustee a mortgage must be duly recorded.