The Financing aspect of partnerships?

[Aaron Millis]

Hi bp,

So I am looking for some clarity on how a certain type of partnership works financially. I'm not sure what the term is for it- but its basically the equivalent of a parent co-signing on their childs car. The parent and child both own the car but the parent doesn't actually pay anything towards it or do anything- and they were just using their status basically to help get the loan.

So when that ^ happens with two partners how would that work exactly? My main wonder is how it would affect the "Parent" in this scenario if- lets say they wanted to go get a loan somewhere else? Does the loan that was shared between them count as debt against the parent too?