When should the HOA assets be in the name of the HOA?

The HOA was turned over to the members in 2004 according to Board members words. Are the Assets attached in the Covenant supposed to be in the HOA, Inc. name? They are still in the name of the 2nd Developer (Original Developer sold to another developer). Does this statement below just mean his voting rights are now equal to A but that he can still hold the assets in his company name until he chooses to transfer them to the HOA?

CLASS "B": The Class "B" Member shall be the Declarant. The Class "B" member shall be entitled to three votes for each Single Family Plot, Condominium Unit, and Apartment Unit which it owns. The Class "B" membership shall cease and be converted to Class"A" membership upon the first of the following events to occur: (a) when the total votes outstanding in the Class "A" membership equal the total votes outstanding in the Class "B" membership unless (1) the Declarant at that time has the right to annex additional
property pursuant to Article II, Section 2(a), of the Declaration sufficient in quantity that, if annexed, the votes of the Class "B" member would exceed those of the Class "A" members, and (ii) the Declarant evidences its intent to exercise such right within a reasonable time thereafter by filing with the Association and the Veterans Administration an affidavit to that effect, (b) abolishment by the Declarant of its Class "B" membership evidenced by written notice thereof delivered to the Association, or (c) December 31, 2003.

What words would I be looking for in the Covenant or By-Laws? I thought December 31, 2003 was the drop dead date for the turnover from the developer to the members. This idea was conveyed by Board members around that time also. But this has not actually happened in Title. Is this normal? Is there possibly a good reason for the HOA funds to be used to maintain assets(pool, tennis courts, and lake) that are not Titled to the HOA members but to a Developer/ Builder? The board is looking at spending 100K to dredge the lake but according to the Tax Records they are owned by a private company. Is this ok?

We have a lawyer. He got paid about $7,000 last year. He just is not being used to get the Assets in the HOAs name; instead he was being used for Selective Enforcement.

For some reason, the board made a deal with the developer. The developer does not pay the dues for his lots (50 lots). Instead he and the board negotiated for him to help pay for landscaping the front entrance instead of paying his dues. I questioned where did the covenants give the board the right to make this deal and asked how much is the developer paying for the landscaping. No answer has been provided. The developer still has power over what the board ultimately does and in my opinion he should not. How do you get a board to take their assets when they are comfortable with them being in a third parties name? I believe his dues should be collected and then if he wants to pay additional funds toward landscaping costs great. We accept. But that we should verify that we do collect the total dues he owes each year. I believe he is the one getting the deal here and I think is needs to stop.

Should the owner by Title of the pool and tennis courts pay to maintain them? Or should the HOA dues pay to maintain them? In theory they are used and ran by the members. There is no management company. But I am taking issue with the title. I believe the title needs to be changed to the name of the HOA. It seems a quick claim deed was all that was needed almost 10 years ago. Before 100K of HOA dues are used to maintain a lake, I think the lake should be legally owned by the HOA members.