The Bible and Finance - Random Thoughts (Part 3)
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Jeffrey Loh
Sep 27, 2012, 4:26:35 AM9/27/12
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The Bible and Finance - Random Thoughts (Part 3)
1. Real Estate
The Bible has a fair bit to say about real estate though most are ignorant about it, as the passages are frequently found in the Tenach which is dismissed as unimportant. Or it could be that discussing such "physical" things are considered "un-spiritual" by many. But God is concerned about His people's physical and spiritual well-being. Otherwise why would He have enacted so many "physical" laws in the Tenach?
In Singapore, we have free-hold or leasehold land, which may come in the form of 30, 60, 99 or 999 years. The land in Israel is primarily freehold land while leasehold land is at 50 years or less depending on when the year of Jubilee occurs. The land of Israel is allotted to the 12 tribes (except Levi) during the time of Joshua. This allotment to the tribes and then individual family is to be a perpetual inheritance throughout the generations. As such, the land is "freehold". However, circumstances might dictate that an individual or family sell the land. They may do so but it will be reverted back to them in the year of Jubilee on Yom Kippur and this occurs once every 50 years.
In God's economy, no one is allowed to buy other people's land and hold it permanently. As such there is no poor - rich divide that we see in our world today. The Mosaic law ensures that the rich does not get too rich and the poor does not get too poor.
1. Real Estate
The Bible has a fair bit to say about real estate though most are ignorant about it, as the passages are frequently found in the Tenach which is dismissed as unimportant. Or it could be that discussing such "physical" things are considered "un-spiritual" by many. But God is concerned about His people's physical and spiritual well-being. Otherwise why would He have enacted so many "physical" laws in the Tenach?
In Singapore, we have free-hold or leasehold land, which may come in the form of 30, 60, 99 or 999 years. The land in Israel is primarily freehold land while leasehold land is at 50 years or less depending on when the year of Jubilee occurs. The land of Israel is allotted to the 12 tribes (except Levi) during the time of Joshua. This allotment to the tribes and then individual family is to be a perpetual inheritance throughout the generations. As such, the land is "freehold". However, circumstances might dictate that an individual or family sell the land. They may do so but it will be reverted back to them in the year of Jubilee on Yom Kippur and this occurs once every 50 years.
In God's economy, no one is allowed to buy other people's land and hold it permanently. As such there is no poor - rich divide that we see in our world today. The Mosaic law ensures that the rich does not get too rich and the poor does not get too poor.
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