Joint venture and loans

[Raman Bindlish]

Hi all,

I am planning to enter into a partnership with one of my friends. We are considering 50/50 on money but we are trying to find out a way so that one person (who has better chances of getting good loan terms) to finance the deal. How can we define the partnership so that only one person takes the mortgage but both are equal partners (down payment, other costs and profits - all 50/50),

-Raman