Ah yeah kinda, The two particles would be in a super position state. Meaning that there could be a number of possible states and each state has a certain probability.

The reason quantum entanglement is so weird, Is that by measuring one Particle changes the state of the other particle, it is in fact spooky action at a distance. How these particles communicate with each other is unknown but we cannot use it as a communication method because the act of measuring one of the particles destroys the entanglement. The states of the particles are random before we measure it. There is no state at which both particles agree upon before they're separated.

When the two particles are entangled, no "information" is communicated. So we can think of it as The particles exchanging random information that has no use to anything. This solves the faster than light communication problem because no real information is sent, Only random data. They're experiments that try to test this hypothesis called the quantum eraser.