What is the legal status of manumission (freeing a slave) according to Islamic jurisprudence?

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Manumission is considered one of the best acts of worship bringing one closer to God Almighty. This is because God made it a means of atonement (kaffarah) for accidental killing, sexual intercourse during Ramadan, and broken oaths. The Prophet established it as a means for the emancipator to be freed from the Fire. Furthermore, it involves delivering a protected human being from the harm of slavery, granting them ownership over themselves and their benefits, completing their legal capacity, and enabling them to dispose of their person and benefits according to their will and choice.