Question about Joint Venture Partnerships?

[Tim Lelow]

So i've been doing some research into joint venture partnership companies. I've found deals ranging from 40/60 to 55/45 splits, this in general sounds pretty great.

My question is this: The companies i've talked to all seem to want to sign a joint partner agreement specific to the property outlining all terms and conditions and then they want me to wire them the funds, then they close on the property with their company name on title.  

Is this normal? It sounds risky to me to just wire these guys 10-20% sales price....thoughts?