What was the year of Jubilee supposed to be according to God's law?
According to God's law, the year of Jubilee was the fiftieth year—every fiftieth year was called the year of Jubilee. It was Israel's year of new beginnings: all debts were cancelled, property reverted to its original owner, and prisoners were released. Israel, however, apparently never 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. Also, a lot of prisoners would be released. Les notes that as far as he knows, Israel never practiced it. He also mentions scholars who base figures on the Jubilee period, while he himself is not setting dates, only showing how God's program from Genesis to Revelation seems set in a 7,000-year time frame.