Property with family member

[Purnell C.]

A family member and I have an agreement that he will manage a property that I recently purchased and when we are ready to sell, he will receive a percentage of the proceeds. He would like for us to establish a partnership so that he is part owner of this property. Is there a better method of establishing a written agreement than a partnership?

[Justin S.]

Do you want him on title? If not just put a joint venture agreement together.