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Lev_25:13-28
"In this year of jubilee ye shall return every man unto his possession. And if thou sell aught unto thy neighbour, or buy of thy neighbour’s hand, ye shall not wrong one another: according to the number of years after the jubilee thou shalt buy of thy neighbour, and according unto the number of years of the crops he shall sell unto thee. According to the multitude of the years thou shalt increase the price thereof, and according to the fewness of the years thou shalt diminish the price of it; for the number of the crops doth he sell unto thee. And ye shall not wrong one another; but thou shalt fear thy God: for I am the Lord your God. Wherefore ye shall do My statutes, and keep My judgments and do them; and ye shall dwell in the land in safety. And the land shall yield her fruit, and ye shall eat your fill, and dwell therein in safety. And if ye shall say, What shall we eat the seventh year? behold, we shall not sow, nor gather in our increase: then I will command My blessing upon you in the sixth year, and it shall bring forth fruit for the three years. And ye shall sow the eighth year, and eat of the fruits, the old store; until the ninth year, until her fruits come in, ye shall eat the old store. And the land shall not be sold in perpetuity; for the land is Mine: for ye are strangers and sojourners with Me. And in all the land of your possession ye shall grant a redemption for the land. If thy brother be waxen poor, and sell some of his possession, then shall his kinsman that is next unto him come, and shall redeem that which his brother hath sold. And if a man have no one to redeem it, and he be waxen rich and find sufficient to redeem it then let him count the years of the sale thereof, and restore the overplus unto the man to whom he sold it; and he shall return unto his possession. But if he be not able to get it back for himself, then that which he hath sold shall remain in the hand of him that hath bought it until the year of jubilee: and in the jubilee it shall go out, and he shall return unto his possession."
The remainder of the chapter (Lev_25:13-55) deals with the practical application of this law of the jubilee to various cases. In Lev_25:13-28 we have the application of the law to the case of property in land; in Lev_25:29-34, to sales of dwelling houses; and the remaining verses (Lev_25:35-55) deal with the application of this law to the institution of slavery.
As regards the first matter, the transfers of right in land, these in all cases were to be governed by the fundamental principle enounced in Lev_25:23 : "The land shall not be sold in perpetuity; for the land is Mine: for ye are strangers and sojourners with Me."
Thus in the theocracy there was no such thing as either private or communal ownership in land. Just as in some lands today the only owner of the land is the king, so it was in Israel; but in this case the King was Jehovah. From this it follows evidently, that properly speaking, according to this law, there could be no such thing in Israel as a sale or purchase of land. All that any man could buy or sell was the right to its products, and that, again, only for a limited time; for every fiftieth year the land was to revert to the family to whom its use had been originally assigned. Hence the regulations (Lev_25:14-19) regarding such transfers of the right to the use of the land. They are all governed by the simple and equitable principle that the price paid for the usufruct of the land was to be exactly proportioned to the number of years which were to elapse between the date of the sale and the reversion of the land, which would take place in the jubilee. Thus, the price for such transfer of right in the first year of the jubilee period would be at its maximum, because the sale covered the right to the produce of the land for forty-nine years; while, on the other hand, in the case of a transfer made in the forty-eighth year, the price would have fallen to a very small amount, as only the product of one year’s cultivation remained to be sold, and after the ensuing sabbatic year the land would revert in the jubilee to the original holder. The command to keep in mind this principle, and not wrong one another, is enforced (Lev_25:17-19) by the injunction to do this because of the fear of God; and by the promise that if Israel will obey this law, they shall dwell in safety, and have abundance.
In Lev_25:24-28, after the declaration of the fundamental law that the land belongs only to the Lord, and that they are to regard themselves as simply His tenants, "sojourners with Him," a second application of the law is made. First, it is ordered that in every case, and without reference to the year of jubilee, every landholder who through stress of poverty may be obliged to sell the usufruct of his land shall retain the right to redeem it. Three cases are assumed. First (Lev_25:25), it is ordered that if the poor man have lost his land, and have a kinsman who is able to redeem it, he shall do so. Secondly (Lev_25:26), if he have no such kinsman, but himself become able to redeem it, it shall be his privilege to do so. In both cases alike, "the overplus," i.e., the value of the land for the years still remaining till the jubilee, for which the purchaser had paid, is to be restored to him, and then the land reverts at once, without waiting for the jubilee, to the original proprietor. The third case (Lev_25:28) is that of the poor man who has no kinsman to buy back his landholding, and never becomes able to do so himself. In such a case, the purchaser was to hold it until the jubilee year, when the land reverted without compensation to the family of the poor man who had transferred it. That this was strictly equitable is self-evident, when we remember that, according to the law previously laid down, the purchaser had only paid for the value of the product of the land until the jubilee year; and when he had received its produce for that time, naturally and in strict equity his right in the land terminated.