The following question helps define the difference between a strata property and a Co-operative.

Q: What is the difference between a strata and a co-op?

A: The main difference is that in a strata you own real estate and in a co-op you do not own real estate. A co-op is governed under The Cooperative Association Act which is created under provincial legislation. A co-op is a corporation formed to purchase or lease land to develop it for housing. People become members of the co-op by buying shares in the corporation. The shares give them the right to occupy a unit in the co-op but they do not have the right to sell the unit, as it belongs to the corporation.