Owning an aircraft with others has a the strong upside of spreading the cost of ownership over a number of people. The downside is that sometimes one of those other people won’t live up the responsibilities she or he agreed to when signing on. At best that’s unpleasant, at worst it can lead to litigation. I’ve been in four aircraft co-ownerships and two flying clubs. For the most part, things went smoothly and I made some of the best friends I’ve had in my life through those experiences. At the same time, not everything was perfect.
Looking back on the good, bad and indifferent with joint ownership, having been an officer in a flying club and talking with officers of several flying clubs, I think that one of the most effective ways of dealing with problem children in a joint ownership is to avoid them through a screening process to make sure that a prospective co-owner/club member fits in with the personality or culture of the group.