Owners can and do delegate. However there really is only one owner even if he/she shares management of a domain.
IMHO it is a mistake. And it can lead to "loss of control".
Consider a business website. The Business sells and the new "owners" claim control of the assets including the website.
I have experienced it and it has motivated me to post terms/conditions and claim of owership on some domains I own yet "lease" to client businesses.
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