If it hasn't been suggested already, or thought of by ECC team, I would really like to see a /own upgrade, where you can add multiple ownerships to the top, rather than one person being able to own it. For example, if two people worked together to get a star tool, it would make sense that both people could have ownerships to the star tool, and therefor have the same abilities when it comes to renting it out / contracts, etc. Anyways, just a thought.
And how exactly does split ownership work? You can't exactly "King Solomon" a tool. If, for example, one owner goes inactive, can another one ask for the tool to be given to him? And If a user dies with the tool, who's ownership is reset? Too many complications. As @LJKAzrael said, write a contract. -1.
Far too many issues for far too little benefit. Just use a contract. If it's a trust issue that brings this forward, I'd say don't share a tool with them if your name being on the tool is make-or-break.