A. Introduction.  Cooperatives (“co-ops”) and condominiums (“condos”) share some important similarities and have some distinct differences. This column discusses several basic issues that buyers and residents should be aware of. (I refer to the entity as a whole as a “co-op” or “condo,” a unit within an entity as an “apartment,” and an apartment owner as a “resident.”)

B. Legal Relationship.  Co-ops and condos are subject to different laws. The co-op relationship is governed by landlord-tenant law.