Rashi on Leviticus 25:10/רש"י על ויקרא כ״ה:י׳

1וקדשתם AND YE SHALL SANCTIFY [THE FIFTIETH YEAR] — when it begins they declare it holy in the court by saying: “The year is holy!” (Sifra, Behar, Chapter 2 1; Rosh Hashanah 8b and Rosh Hashanah 24a).

2וקראתם דרור AND YE SHALL PROCLAIM LIBERTY unto slaves, both to him whose ear has been pierced (and whose period of servitude has thus been prolonged until the Jubilee; cf. Exodus 21:6) and to him whose six years of servitude (the period prescribed for an ordinary Hebrew servant; Exodus 21:6 Exodus 21:2), reckoning from the time when he was sold, have not yet ended. R. Jehuda said, “What is the etymology of the term דרור, freedom? A free man is like a person who may dwell (דור) at an inn — meaning that he may reside in any place he pleases, and is not under the control of others. (דרור therefore implies liberty of residence) (Rosh Hashanah 9b).

3יובל הוא IT SHALL BE A JUBILEE [UNTO YOU] — This year shall be distinguished from all other years by it alone being given a special name for itself. And what is its name? “Jobel” is its name — with reference to the “sounding of the Shofar” (the ram’s horn which is called יובל; cf. Exodus 19:13).

4ושבתם איש אל אחזתו AND YE SHALL RETURN EVERY MAN UNTO HIS POSSESSION — This means that the fields return to their owners. (Not that each man actually goes back to his land — just as it goes on to state that the slave actually returns to his family).

5ואיש אל משפחתו תשבו AND YE SHALL RETURN EVERY MAN UNTO HIS FAMILY — This verse is intended to include in the law of setting the slaves free also the slave whose ear has been pierced (cf. Sifra, Behar, Chapter 2 5; Kiddushin 15a).