What is the difference between a co-op and a condo?

When looking at property listings you will notice that there are 3 different property ownership types.

The 3 types are:

1. fee simple
2. co-op
3. and condo.

Condo means that you essentially own a small section of the big structure. Fee simple means you get a separate undivided interest in a property, such as a house or a townhouse. A co-op is completely different as it has the feel and look of a condo but you actually buy a share of the structure. You do not technically own any real estate, it’s more like stock in a building.

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