Section 54. The supreme judicial court shall have jurisdiction in equity of all cases arising under the two preceding sections, and of all questions arising out of railroad mortgages, and may summarily remove a trustee under a railroad mortgage, whether he is in possession of the railroad or not, and appoint a new trustee in his stead.

Terms Used In Massachusetts General Laws ch. 160 sec. 54

  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Trustee: A person or institution holding and administering property in trust.
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