Where does income from a non-spouse jointly owned property go?

Hi -

 

I'm looking to buy a property with a business partner and was wondering about a few questions. We're not planning on buying it via an LLC. The questions are:

 

  • If the mortgage is only in one person's name, does that impact how interest costs are distributed?
  • Would having the deed/title in only one person's name also change anything related to expense allocations?