Final answer:
The correct answer is B) Seller-lessee retains minor rights, which means the seller-lessee keeps less than 10 percent of the fair value of the property, indicating a minor retention of rights.
Step-by-step explanation:
When a seller-lessee retains a minor portion of rights in a sale and leaseback transaction, specifically less than 10 percent of the fair value (FV) of the property, it is generally understood that the seller-lessee retains minor rights.
Therefore, the correct answer to this question is B) Seller-lessee retains minor rights.
This implies that while some residual value or rights in the form of a lease may remain with the seller-lessee, the substantial majority of rights and benefits have been transferred to the buyer-lessee.