No, slavery was regulated by the Sabbatical year, IIRC.  The Jubilee, or Yovel (as it's pronounced in Hebrew) is the year following 7 Sabbatical years, i.e. 50 years.  On the Yovel year, all land was to be revert back to its original owners.  Thus, every house hold would reinherit its homestead, after having been sold off during hard times.
DPH

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