Declarant Period Over but Developer Still Owns

The declarant period for the condo area is over... long over... but just found out that the Developer still owns some carports and possibly 1 or 2 garages. Is this legal... I thought that with the declarant period over, all belonged to the HOA.. Can anyone clarify this?

Garages are owned by individual home owners who elected to PURCHASE them.. the carports are deeded to homeowners......

Alex,

Normally transition occurs when a certain % (less than 100%) of the homes/lots have been sold. That doesn't mean the developer can't still own some unsold homes/lots. These unsold properties can be owned by the developer's corp or by him individually. There is no law which states a developer cannot purchase property in a community he is developing. At transition whatever the developer owns reverts to Class A (members) membership and the developer has only 1 vote for each property he still owns. At any rate, when the declarant period is over, the HOA doesn't own everything anyhow. In a planned community, the HOA only owns the common areas; each individual property is owned by the individual members. Even in a condo assn everything is not owned by the HOA; each member has an undivided interest in the common areas and the HOA owns a portion of each individual unit.