Condominium vs. Co-op vs. Co-ownership

I found a link that purports to explain the differences between the three types of units in Toronto; condos, co-ops, and co-ownerships. I've taken the following list without permission from: http://sites.google.com/site/torontocoownership/home

Understanding the Difference Co-Ownership vs. Condos vs. Co-Ops
Condominium:

• Each suite is a separate piece of real estate which can be bought, sold and traded in the market
• In addition to owning the unit the buyer will own proportionate shares of the common areas of the property
• Condos can be mortgaged

Co-Ownership:

• There is only one piece of real estate and each buyer is registered on title to the property
• All buyers own a proportionate share of the entire property and are given the exclusive rights to occupy one of the units in the building
• These shares of ownership can be bought, sold and mortgaged. With condos and co-ownerships (but not with co-ops) you can mortgage your interest in the property without causing liability to the other unit owners and without getting consent from the property's Board of Directors.
• Although most banks will not finance co-ownership properties there are a number of credit unions and HSBC will finance a co-ownership purchase.

Co-Op:

• The property is owned by a corporation and not by the residents
• The buyer owns shares in this corporation and has the right to occupy a specific unit within the property
• Buyers are not registered on title to the property
• These shares can be bought, sold and traded
• Shares can be mortgaged but not the property itself.
• Although most banks will not finance co-ops there are a number of credit unions and other financial institutions that will.

(The image is from a real estate listing - it's the building at 35 Raglan Avenue, a co-ownership building).