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The meaning of Jubilee in the Bible
(From Easton's Bible Dictionary)

a joyful shout or clangour of trumpets, the name of the great semi-centennial festival of the Hebrews. It lasted for a year. During this year the land was to be fallow, and the Israelites were only permitted to gather the spontaneous produce of the fields (Leviticus 25:11,12). All landed property during that year reverted to its original owner (13-34; 27:16-24), and all who were slaves were set free (25:39-54), and all debts were remitted.


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