The Glorious Exchange

Pastor Carlos Montoya shares part one of a devotional reflecting on the death and resurrection of Christ.

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One of the greatest rewarding moments as a professor at the SEPE seminary is witnessing the light of understanding “switch on” in students when they are exposed to a grand truth of Scripture. It might be a new truth that they have not heard before or simply a deeper and more precise understanding of an old truth. The latter was the case with Antonio, our fourth-year Ecuadorian student who recently finished a theology course on Soteriology.*

The subject was, what theologians commonly call, “double imputation.” This gripped Antonio so much that at the close of the class, he hurried home to share this amazing truth with his wife, Selena. He explained to her the different elements of this most hope-filled spiritual reality that he had just been taught in class. The impact was so powerful that tears ran down their cheeks as their hearts' eyes were opened to a deeper understanding of what took place on the cross when Jesus uttered those final words before His death, “It is finished.” It was a glorious exchange that took place on that cross, a “double imputation” sealed with the shed blood of Jesus Christ.

So, what is meant by “double imputation?” The basic understanding of “double imputation” is that the sin of the sinner was imputed to Christ on the cross, which then made it possible for the righteousness of Christ to be imputed to the sinner. The idea of imputation is an accounting term, expressing that something is placed or credited on the account of another. In this case sin is credited on Christ’s account, making it possible for His righteousness to be credited on the sinner’s account. The verse that most clearly explains this glorious exchange is found in 2 Corinthians 5:21, which states…

He made Him who knew no sin to be sin on our behalf, so that we might become the righteousness of God in Him.

This verse expresses this double imputation, this double accounting, this glorious exchange. Christ, who is thoroughly sinless, took upon Himself the sin of the sinner (our sin imputed on Him) so that we, who are thoroughly sinful, might be presented as righteous before God with the righteousness of Christ (Christ’s righteousness imputed on us). The implications of this grand truth are awe-striking. Though there are many, I will limit it to seven.

  • First, we see that this is totally the work of God.

  • Second, we see that we have absolutely nothing to offer for a right standing before God.

  • Third, we see the enormous and eternal value of Christ’s sacrifice on the cross to secure His righteousness in us.

  • Fourth, we can now stand before God fully justified.

  • Fifth, our justification is not based and will never be based on any merit on our part but on the merit of the work and person of Christ.

  • Sixth, this secures our salvation forever.

  • And seventh, this glorious exchange is ultimately for the glory of God our Savior!

This is what makes Good Friday, “Good!” Let us join with Antonio and Selena in celebrating the grandeur of this glorious exchange!


*Soteriology is the theological and biblical study of our glorious salvation.