Partnership
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I am ready to enter into a partnership with an individual that already owns the airplane. What process and forms need to be filed to complete this arrangement?
Thank you, Kurt
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AOPA Pilot Information Center receives purchase contacts daily from our membership. In those conversations, the terms partnership and co-ownership are used interchangeably. However, in FAA parlance, a partnership is a business entity. Whereas, a co-ownership is just more than one person owning an aircraft together. In over 95% of the cases, the members are just looking to own an aircraft together, which is properly referred to as a co-ownership, and the registration application should reflect that as the type of registration. 
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Thanks for the info. This really helps.
Kurt
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1012 Posts
It all depends on how the aircraft is currently owned and what sort of ownership arrangement you are forming, and there are a lot of co-ownership options, including partnership, co-owner, and various corporate entities.  Here's some information to get started.

https://www.aopa.org/go-fly/aircraft-and-ownership/buying-an-aircraft/pilots-guide-to-co-ownership
https://www.aopa.org/news-and-media/all-news/2019/june/pilot/sharing-aircraft