[2007] EWHC 2747 (Ch), 23 November 2007. Considers whether a form of transfer deposited with a bank had been executed or delivered in escrow. The first defendant (K) had negotiated to purchase a property belonging to the second and third defendants (O). The claimant bank (B) had advanced the purchase price in exchange for which K executed a mortgage deed giving B a full title guarantee. A telephone exchange of contracts occurred between O and K, including Land Registry form TR1. O subsequently wrote to K stating that the terms of the contract had not been met and that the contracts were cancelled. B sought declaratory relief stating that the property was charged with a mortgage. O contended the TR1 document had been held in escrow on condition that K paid the purchase price which he had not done. "Held": The deed was sent from O's solicitors to K's solicitors, with nothing to imply conditionality to its execution. O would have known that B would not release money to K unless the transfer of the house was agreed. Even if the title remained vested in O, B was entitled to have its mortgage charge registered. Judgment for the claimant.