What happened to debts and property in the year of Jubilee?
In the year of Jubilee, all debts were cancelled and all property reverted back to the original owner. This 50th year was a time of new beginnings, and prisoners were also released. According to God's law for Israel, it looked good, but Israel never actually practiced it.
Les explains that a Jubilee was 50 years, and every 50th year was called the year of Jubilee. According to God's law when He first began dealing with the nation of Israel, the year of Jubilee was the year of new beginnings. In other words, all debts were cancelled and all property reverted back to the original owner. He notes that it looked real good, but Israel, as far as he knows, never practiced it. The year of Jubilee also released a lot of prisoners. Les further connects this to Grant Jeffreys' book Armageddon and Appointment with Destiny, which bases some figures on the Jubilee period in Israel's history.