Buying a property with a partner under personal names

[Eduardo Sagues]

Hi, My friend and I want to buy a property in partnership 50/50 (not under an LLC so we can use conventional loan). He wants to invest his 50% with his wife. My understanding is that if the three of us show on the title, technically the ownership is divided by 3 and instead of me having a 50%, I would have a 33 (although I may be wrong)

What title structure we should use so I'm 50%?

Thanks