That is a can of worms that could equal 500 words.

Basically a condo is property you own and a CO-OP is shares of a building and way more restrictive as far as the rules.

Coops can run by there own rules! You do not own property, you own shares!

Good morning Christopher. The coop board is very involved in the approval process of the buyer, based on the rules that are in place.

One is real property and one is shares in an entity.

Depends on the state.

Interesting question and great answers.

Great answers for your question. 

Christopher we have a guide on our website that explains the difference between condo vs co op.

Hey Chris, are you licensed and selling RE now?

Coops are a whole different kettle of fish.

The biggest difference is the approval process of the condo vs. the coop.

One key difference is that some of the forms are different.

parked and reading

Christopher Ward Apples and oranges. The important thing to remember is if a coop goes into foreclosure, everyone in the building is at risk. If a condo goes into foreclosure, only the unit owner is at risk.

The type of ownership and the type of mortgage.  Condominium ownership is much more common in our market.  Very few co-ops.  

One is an ownership share and the other is real estate.

The biggest difference is the type of ownership and board approval process.

A cooperative sells shares in a corporation. You need to get through a board for approval to buy. 
And in many coops there are tight regulations as to how much you can finance, regardless of what a bank will lend you.

Depends on state laws.

A huge difference: financing. In my area, we have very few reps who would take a coop. Also, coops have a lot of very specific rules who can buy and live there and how they approve a new coop owner. 

Very different ownership.  

That is a state specific question.

It's really not, excpet for the paperwork and the need for board approval of the buyers.