Sung Psalm 45:1-6
The freewill offering of land to the priests became cash to the value of the seed required to sow that land. If a man wanted to buy it back he had to add 20% of the cash value but at the jubilee it reverted to the priests. If a man devoted land to the priests that was bought from another man then a cash value was calculated to be given the priesthood and the land reverted to the original owner at jubilee.
Related passages: Numbers 36:1-7. To prevent land leaving Manasseh the daughters of Zelophehad married within their tribe. Jer.32:7. II Chron.36:21. Neh.10:31. Ezek.46:16-18 (c.f. I Sam.8:14)
Another aspect of Jubilee: Deut.15:1-16. The non-exaction of debt among the Jews (but not foreigners).
In Isaiah 61:1, Jubilee was fulfilled partly when the Jews returned from Babylon but ultimately in the coming of Christ who himself said this Scripture was fulfilled as he read it in the synagogue in Nazareth (Luke 4:16-21). Note it included kindness to Gentiles (widow of Zarephath and Naaman the Syrian).
So the real jubilee came by preaching, by faith and by freeing from slavery to sin and the forgiveness of the debt of sin in the New Testament age, the “now” of II Cor.6:2, in which we no more keep days, months or years (Gal.4:9-10) but resort wholly to the person who brought in real jubilee namely Jesus.
” The benefits of Jubilee were squarely based on the atonement, on the shedding of blood in the stead of Israel. Israel did nothing to atone for itself, did nothing to pay. The benefits were simply bestowed upon Israel by sheer divine grace: slaves were released; debtors were freed;land and people had rest. No one did anything to earn liberation. All simply received it as a pure gift.” Prof David J Engelsma in pamphlet entitled “AD 2000: Year of Jubilee by Papal Indulgence or Reformation Gospel.”
Jubilee ppt (click on view slideshow)