Brother lives in house in other brother's name but he

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My question is: Canadian-specific
QUESTION: My brother and I bought a house with a basement suite.  For financial reasons, the title and mortgage were put in my name. (We both put in a equal amount of the downpayment, but just have a verbal side agreement that it is owned by both of us. We could write up whatever is needed to be in writing.) He lives in the upstairs with his family,  and we rent the downstairs.  
1st Question:  Legally (for tax reasons etc.)should we put an agreement in writing  to show both of us as owners, (if so what is needed)?
2nd Question:For tax reasons, can we say his part of the investment was that he gets the upstairs to live in, and I get the basement suite to rent out? I would claim all the rent from the suite, all the suites expenses and repairs, a portion of the common area repairs, a portion of the mortgage interest etc.   
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david ingram replies:
Great question = The house belongs to both of you.  You should have some sort of agreement between the two of you to protect him if something happens to you and you are the only registered owner.  See a lawyer and get an agreement made up or even transfer the house into both names now.
The reason to register is not for tax reasons.  If you both put money in and you understand it belongs to both of you, it is both of yours for the purpose of the tax act.  You are just holding his interest in trust.  The only reason he would want his title registered is to protect his (and his family's) interest if something happens to you.
Because you do not have it registered, if you died in an accident which was caused by you, the house could go to accident victims and  your brother could lose out or have to spend $20,000 proving his claim.
I have "personal" Knowledge of this - believe me. My soon to be ex wife, Jose,  just paid the Leigh & Hobbs Law Firm some $18,000 proving her ownership of the family house when she failed to register it in her name.
If the idea was that your brother bought his half and you own the other half, it would make sense that you would rent the half you do not live in and he lives in his.  Do the tax returns accordingly.  We would be glad to assist.
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