Condominiums | Co-operatives | Co-ownership |
Individual ownership of unit | Yes | No; buyer owns shares in the corporation | No; buyer owns an undivided percentage ownership in the building and land |
Easy to finance | Yes | Very limited | Limited |
Consent needed to mortgage, finance or pledge (as applicable) | No | Yes | No |
Consent needed to sell | No | Yes | Varies |
Separate realty tax assessment | Yes | No | No |
Sharing of common expenses on a pro-rated basis | Yes | Yes | Yes |
Participate in management | Yes | Yes | Yes |
Affected by default of others | No | No | No |
Shareholder relationship | No | Yes | No |
