Buying a up to date home

Questions: How can 3 people buy a house and be equal owners?

Two ways that I can deliberate of:
1) Draw up a contract to this effect, stating the ownership percentage and financialcontributions for all.
2) If it is a multi-until dwelling, do a TIC (Tenancy In Common). However, unless the unit are exactly the same, the ownership % might be slightly different.

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