partnership

[Jim Chung]

hi everyone. need some advice. Im in process of purchasing 2 properties with new partner. i am putting 60%-70% down of the downpayment.. we are applying for convention loan and is going under my partner's  name only. spoke to lender and he recommend the deed goes under his name only as well, thus can maximaze our inventory before bank may give us problem if too much property in one's name. 

1) Do i need to worried about deed goes under his name only even though i am paying 60% of the property and no LLC partnership has been established yet

2) will the LLC partnership is enough to protect my interest for the deed is under his name only

2) do i need to from LLC limited partnership now? or can we just use partnership agreement enough to protect my interest

As always, thank you for your valuable feedback