25 If thy brother be waxen poor, and hath sold away some of his possession, and if any of his kin come to redeem it, then shall he redeem that which his brother sold.
26 And if the man have none to redeem it, and himself be able to redeem it;
27 Then let him count the years of the sale thereof, and restore the overplus unto the man to whom he sold it; that he may return unto his possession.
28 But if he be not able to restore it to him, then that which is sold shall remain in the hand of him that hath bought it until the year of jubile: and in the jubile it shall go out, and he shall return unto his possession.
29 And if a man sell a dwelling house in a walled city, then he may redeem it within a whole year after it is sold; within a full year may he redeem it.
30 And if it be not redeemed within the space of a full year, then the house that is in the walled city shall be established for ever to him that bought it throughout his generations: it shall not go out in the jubile.
31 But the houses of the villages which have no wall round about them shall be counted as the fields of the country: they may be redeemed, and they shall go out in the jubile.
32 Notwithstanding the cities of the Levites, and the houses of the cities of their possession, may the Levites redeem at any time.
33 And if a man purchase of the Levites, then the house that was sold, and the city of his possession, shall go out in the year of jubile: for the houses of the cities of the Levites are their possession among the children of Israel.
34 But the field of the suburbs of their cities may not be sold; for it is their perpetual possession.
35 And if thy brother be waxen poor, and fallen in decay with thee; then thou shalt relieve him: yea, though he be a stranger, or a sojourner; that he may live with thee.
36 Take thou no usury of him, or increase: but fear thy God; that thy brother may live with thee.
37 Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase.
38 I am the LORD your God, which brought you forth out of the land of Egypt, to give you the land of Canaan, and to be your God.
39 And if thy brother that dwelleth by thee be waxen poor, and be sold unto thee; thou shalt not compel him to serve as a bondservant:
40 But as an hired servant, and as a sojourner, he shall be with thee, and shall serve thee unto the year of jubile:
41 And then shall he depart from thee, both he and his children with him, and shall return unto his own family, and unto the possession of his fathers shall he return.
42 For they are my servants, which I brought forth out of the land of Egypt: they shall not be sold as bondmen.
43 Thou shalt not rule over him with rigour; but shalt fear thy God.
44 Both thy bondmen, and thy bondmaids, which thou shalt have, shall be of the heathen that are round about you; of them shall ye buy bondmen and bondmaids.
45 Moreover of the children of the strangers that do sojourn among you, of them shall ye buy, and of their families that are with you, which they begat in your land: and they shall be your possession.
46 And ye shall take them as an inheritance for your children after you, to inherit them for a possession; they shall be your bondmen for ever: but over your brethren the children of Israel, ye shall not rule one over another with rigour.
47 And if a sojourner or stranger wax rich by thee, and thy brother that dwelleth by him wax poor, and sell himself unto the stranger or sojourner by thee, or to the stock of the stranger's family:
48 After that he is sold he may be redeemed again; one of his brethren may redeem him:
49 Either his uncle, or his uncle's son, may redeem him, or any that is nigh of kin unto him of his family may redeem him; or if he be able, he may redeem himself.
50 And he shall reckon with him that bought him from the year that he was sold to him unto the year of jubile: and the price of his sale shall be according unto the number of years, according to the time of an hired servant shall it be with him.
51 If there be yet many years behind, according unto them he shall give again the price of his redemption out of the money that he was bought for.
52 And if there remain but few years unto the year of jubile, then he shall count with him, and according unto his years shall he give him again the price of his redemption.
53 And as a yearly hired servant shall he be with him: and the other shall not rule with rigour over him in thy sight.
54 And if he be not redeemed in these years, then he shall go out in the year of jubile, both he, and his children with him.
55 For unto me the children of Israel are servants; they are my servants whom I brought forth out of the land of Egypt: I am the LORD your God.
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The jubilee year, according to the prescriptions of Leviticus, was to be a special year. In that year it was prescribed that land bought from its former owners be returned to them, the land that was hereditary and belonged to a person as his communal allotment. The point is that all land among the Hebrews, except urban real estate, was communal. Plots in cities were a different matter (more precisely, in settlements, which in the Pentateuch are usually called cities): here the issue was precisely the private property of specific people, belonging to them as private persons. As for farmland, whether fields or pastures, it belonged to the whole community as such: first to the clan community, and later, after territorial communities began replacing clan communities, to the territorial community.
The communal tract was divided into allotments assigned to specific members of that community. These allotments are what the prescriptions concerning the jubilee year are about: in the jubilee year they had to be returned to the original owner, the one to whom they belonged at the time when the communal land was divided. In this way social and property stability was maintained in Hebrew society in the pre-state period, and perhaps partly later as well.
In addition, in the jubilee year debts were to be forgiven and those who had fallen into debt slavery were to be released, even if the slave had not yet worked off his debt. As for private property not connected with communal lands, the rule of return in the jubilee year did not apply to it: such property belonged completely to its owner, who disposed of it solely at his own discretion. The division into communal and private property was, of course, historically conditioned and connected with the very process by which the Hebrews settled the territories they had conquered in Palestine.
Yet there was something else here too: the attitude toward the land as God's gift. After all, it was God who gave the people the land on which they lived, and He Himself distributed it among the tribes. Therefore the land had to remain with those to whom God had allotted it; otherwise His will would have been violated, and the people for whom He had intended it would have been left without their land. Such a state of affairs would have completely distorted God's design for the people and for the land, which could not be allowed at all. That is why the law of the jubilee year appears in the Pentateuch.