Sometimes i am being asked by my clients what is co-op and how it is different from condominium. the main difference between the two is ownership. In condominium you own the unit and share common elements which are paid for with monthly condo fees. With co-op you do not physically a unit but rather you buy shares in a corporation that owns the building. Also in co-op current residents have the right to accept or reject applicant owners or tenants.
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