Final answer:
The property in which a pipeline company and a landowner have a mutual interest is referred to as a right of way, which is a form of easement necessary for maintaining clear property rights and responsibilities.
Step-by-step explanation:
The correct answer is:
b) Right of way, mutual
In this context, a right of way refers to the legal right for a person or entity to pass through another's property for a specific purpose, such as the installation and maintenance of a pipeline. This right of way often involves an agreement between a pipeline company (the entity requiring access) and a landowner (the property owner through which the pipeline passes).
The term "mutual" reflects the shared interest between the pipeline company and the landowner in this right of way. Both parties have a mutual interest or agreement regarding the use of the land for the pipeline's installation, allowing the company access while ensuring the landowner's rights are acknowledged and respected within the confines of the agreed-upon terms and conditions.