Do you believe in imputed righteousness? How is righteousness imputed? ( Romans 4:5)
Let's start with what is imputation? What does it mean to have something "imputed" to another?
Imputation is basically a legal term. Therefore, in the Biblical sense, it has to do with satisfying the Law of God. I like the definition given on Google as it applies to the law.
Attributed vicariously. In the legal sense, the term imputed is used to describe an action, fact, or quality, the knowledge of which is charged to an individual based upon the actions of another for whom the individual is responsible rather than on the individual's own acts or omissions.
In Romans 4:5, the reader is directed not to his/her own faith but the object of faith - Jesus Christ. For we know, that Scripture teaches that only Jesus Christ satisfied the requirements of the Law. God knowing, by His eternal decrees, that this would take place, was free to "Impute" Christ's Righteousness to both the OT and NT Saints "account". This Righteousness was based on the "surety" of Christ's person and completed work before the foundation of the world; later proved to all men in the person and work of Jesus Christ in time.
We know for certain, that this imputation does not "make" our "personal" righteousness sinless or better. We are still filthy rags until we step into Glory. However, it does allow God to see us as "righteous" because of our association with Christ's Righteousness
in our account. Christ satisfied the Law's requirements and in doing soo, by way of imputation, satisfied it for all of the Elect. Therefore, Scripture calls us "Saints" or Holy Ones, in this present time because we are seen by the Father through His Son's imputed righteousness given to each believer.
As previously discussed, God could proclaim each one of the Elect as righteous even before He created anything. In this way, The Father could place everyone of His chosen into the Lamb's Book of Life, before the foundation of the world (Rev.17:8).
The born again believer, lays hold of this imputed righteousness by the exercise of believing/faith. NOT that it is
acquired by his/her faith, in the legal sense - it is already imputed to their account - but they come to know this fact by faith. By faith, the believer comes to a firm knowledge,
before his/her own conscience, that the righteousness of Christ has been imputed to them. Without this knowledge, their own daily sins, would strip them of joy.
Here are a few comments from other men - John Gill:
his faith is counted for righteousness; not the act, but the object of it; which was Abraham's case, and therefore was not justified by works. The Vulgate Latin version here adds, "according to the purpose of the grace of God".
Albert Barnes:
In themselves they are equally undeserving, whether they are justified or not. Their souls have been defiled by sin; and that is known when they are pardoned. God judges things as they are; and sinners who are justified, he judges not as if they were pure, or as if they had a claim; but he regards them as united by faith to the Lord Jesus; and in this relation he judges that they should be treated as his friends, though they have been, are, and always will be, personally undeserving. It is not meant that the righteousness of Christ is transferred to them, so as to become personally theirs - for moral character cannot be transferred; nor that it is infused into them, making them personally meritorious - for then they could not be spoken of as ungodly; but that Christ died in their stead, to atone for their sins, and is regarded and esteemed by God to have died; and that the results or benefits of his death are so reckoned or imputed to believers as to make it proper for God to regard and treat them as if they had themselves obeyed the Law; that is, as righteous in his sight.
The more we learn, about what God has done for His chosen in Salvation, the more beautiful He becomes.