The Jubilee (Hebrew yovel יובל) year is the year at the end of seven cycles of shmita (Sabbatical years), and according to Biblical regulations had a special impact on the ownership and management of land in the Land of Israel; there is some debate whether it was the 49th year (the last year of seven sabbatical cycles, referred to as the Sabbath's Sabbath), or whether it was the following (50th) year."This fiftieth year is sacred—it is a time of freedom and of celebration when everyone will receive back their original property, and slaves will return home to their families. " —Leviticus 25:10
Jubilee deals largely with land, property, and property rights. As with most cultures, the property rights regarding land, slaves and indentured servants was less absolute than for other property rights such as for tools and personal artifacts.
The biblical rules concerning Sabbatical years (shmita) are still observed by many religious Jews in the State of Israel, but the regulations for the Jubilee year have not been observed for many centuries.