What are the rights of the developer after the transition?

After the developer transition, the developer does have certain rights. If they’re still holding 5% of the units, they’re entitled to have one person on the board. In addition to that, they’re entitled to relatively unfettered access to the project in order to sell the remaining units. That doesn’t mean they have complete control, but the association is not permitted to impose obstacles that prevent or limit the developer’s ability to sell units.