The View of Imputed Righteousness
That Goes Way Beyond Scriptural Bounds

2 Cor. 5:21: 

"For he hath made him to be sin for us, who knew no sin; that we might be made the righteousness of God in him."  

Much can be said about this verse, but suffice to say, the gnostics would teach that sin is a substance and can be transferred from one person to the next.  Sin is not a substance, it has to do with moral choices.  The Bible describes sin as a transgression against His law and conscience (1 John 3:4; James 4:17). 
What the gnostics would have us believe is that Jesus literally became sin itself.  Jesus couldn't because He knew no sin.  He was always undefiled and still undefiled.  He was not guilty because He was not a transgressor of the Law.  If sins were imputed to Him as the gnostics would have us believe, whether by own fault or imputation, the guilty is still punished and would not be considered "suffering" as the Scriptures says He did.
On the other hand, the gnostics, who have been busy for a very long time, would have us believe that Jesus made a "swap."  Ungodly teachers like Charles Stanley, Chuck Swindoll, John Piper, Chuck Swindoll, Erwin Lutzer, Tony Evans, John McAuthur, Pat Robertson, Ed Young, Billy Graham, Josh McDowell, John Ankerberg, etc. etc., really want us to believe this traditional teaching that has nothing to do with the Bible. This swap would look like this:

We are to believe that whatever sin you or I committed or would have committed in the future, is all placed on him.  Jesus did not become sin itself, the Bible is clear that he was a sin OFFERING.  There was never a time, nor shall be, where Jesus will be found with sin. 
"And you know that He was manifested to take away our sin and IN Him is NO sin" ( 1 Jn. 3:5)
The Bible clearly tells us that Christ was an OFFERING for sin. (Isa. 53:10; Heb. 9:13-14; 9:28; 10:10). He was a SACRIFICE to God for a sweet -smelling aroma. (Eph. 5:1-2). These verses also affirm, Christ NEVER became sin on the cross, which means, when God viewed His Son on Calvary He saw NO sin. (Isa. 53:7; 53:9; Acts 8:32-33; Heb. 4:15; 1 Pe. 2:22-23). This being the case, there was NO exchange, magnificent transfer or imputation that took place on the cross! The Scripture declares, 'He (Jesus) was manifested to TAKE AWAY our sins, and IN Him is NO sin' (Matt. 1:21; 2 Co. 5:21; 1 Jn. 3:5)! This is why God could accept Christ precious blood and sin-offering as a sacrifice for the sins of the WORLD. (Lev. 22:20; Ex. 12:5; Jn. 1:29; 2 Cor. 5:21; 1 Pet. 1:19; 2:24; 1 Jn. 2:2) 
The false teachers of yesterday and today would have us believe that "impute" means "transfer." NEVER.  
Please read very carefully what John the apostles says.  Apparently he comes against this teaching of Jesus' righteousness imputed.

"Little children, let no man deceive you: he that doeth righteousness is righteous, even as he is righteous." (1 John 3:7)  

The wolves in sheep's clothing teach their students that once a person says some magical "Sinners Prayer,"  or  makes some "mental assent" and "accepts" Jesus, that they  are saved forever, regardless of their conduct afterwards. According to them you are now "covered."  Jesus "has your back," so to speak.  What happened to you at that moment, they will tell you, is that at Jesus transferred (swapped) his moral character to you and your moral character was transferred to him.  Where it concerns you, God now suffers permanent moral blindness to your conduct from that point on.  Any future sins you commit God will not be able to see (since all future sins are covered as well), only Christ.  Even if you deny and depart from the faith, God will not see it.  He will ignore those sins because you have the "imputed righteousness of Jesus."  We have all heard the question, "When you stand before God on judgment day, on what basis will God allow you into heaven?"  The answer?  "Nothing I did, but because of what Jesus did.  God won't see me, he will only see his Son."
That is a lie.  Nowhere in the holy word of God does it tell us this will happen on judgment day.  Listen to what Lutzer says about Jesus' perfect life imputed to us, 
"It is also that God looks at us as if we have lived lives of perfect obedience.  He sees us as being loving, submissive, pure.  He sees us having done everything Christ has done.
"The righteousness is unchangeable."
"The righteouness is permanent."
So what it really comes down to is that it does not matter what Jesus taught about the workers of iniquity.  A practicing homosexual is "covered."  A drunk is covered.  A Christian can be an adulterer and be covered and so on. 
Character and practice can never be separated. (1 John 3:7) 
Even if a person denies Jesus, according to them, that person is still saved.  Dear friends, Jesus did not say this, nor Paul, nor the other apostles.
Jesus says, "But whosoever shall deny me before men, him will I also deny before my Father which is in heaven" (Matt. 10:33).
Paul says, "It is a faithful saying: For if we be dead with him, we shall also live with him: If we suffer, we shall also reign with him: if we deny him, he also will deny us: If we believe not, yet he abideth faithful: he cannot deny himself."  2 Tim. 2:12-13
Look what Lutzer says in his book "How Can You Be Sure," p.152: 
"I think, however, that we are too quick to assume that Christ's denial of those who deny Him means that they will be eternally lost.  In fact, the very context of 2 Timothy 2:11-13 speaks of God's faithfulness toward us in the midst of our failure...  Obviously, Paul believed that we Christians could become 'faithless,' though that would not alter God's faithfulness toward us... He would not deny that we are His children (for He is faithful to His promises), but He will deny us a special reward and place of honor in the kingdom." 
Can anyone explain what a "FAITHLESS" BELIEVER is?  Nowhere in the passage does it say Christ remains faithful to us when we deny him.  Paul warns us about people like Lutzer in the very next verse (v.14).
Paul agrees with Jesus.  If we deny Jesus, He will deny US.  What He cannot do is deny HIMSELF.  There is a difference between US and HIMSELF.
If we deny Him, he will also deny US.  To deny is to disavow, to reject.  Some want to say that what is denied is a "reign" even though we deny Jesus.  Nowhere are we told this.
If we deny him, he will also deny US.  Again, what Jesus won't do is deny HIMSELF.  That is, he will stay true to his holy character and whatever he has promised to both sinners and saints.
John is also in agreement with Jesus and Paul, "Whosoever denieth the Son, the same hath not the Father: 
Just like Jesus said, "But whosoever shall deny me before men, him will I also deny before my Father which is in heaven."  That is rejection, not acceptance!
God is going to judge and reject those who deny Him.  You deny Him and He will deny you.  It is interesting that Christians who deny Jesus before men think they will still be acknowledged by Jesus with open arms.  Don't be deceived, Jesus is not going to accept traitors.  If the opposite were true, why every traitor in the universe has reason to rejoice, along with those who have been faithful, even unto death!    The unfaithful and traitors will be saved?  Absurd!
The famous verse quoted to try and prove Jesus' righteousness is imputed to us is taken from Rom. 4:6-8:
"Even as David also describeth the blessedness of the man, unto whom God imputeth righteousness without works, saying, Blessed are they whose iniquities are forgiven, and whose sins are covered.  Blessed is the man to whom the Lord will not impute sin."
Paul is quoting David's 32nd Psalm (32:1-2) where David needed to REPENT before the Lord and confess his sins before God could forgive him. (Ps. 32:5)
All Romans 4:6-8 is saying is that one is spiritually blessed if he is described like that, which applies to those who are forgiven of their sins when they come to God in faith and repentance.
The Bible shows that the pardoning of our sins is the SAME as the imputation of righteousness.
In other words, all the sins you have committed are not charged against you anymore once God has forgiven you.  God now reckons you as righteous and you must continue to be righteous.
An example of this can be taken from our legal system.  If you receive full pardon, you are treated as though you have never broken the law when in fact you did.  But now your record is erased.  You are free and clean of your past offenses (Rom. 3:25; 2 Peter 1:9).  The Bible declares the same.  When a person comes to Christ, seeking his mercy in repentance and faith, God grants him mercy and forgives all his sins. Jesus' blood cleanses us from all the sins we have committed up to that point and are covered.  The sinner whose faith  leads him to obey God is fully accounted righteous before God.  It is his FAITH (not the obedience of Jesus) that is imputed to him for righteousness.  (Rom. 4:5)  The sinner who receives full pardon of his sins is accounted righteous on the basis of his faith.
Impute does not mean transfer.  Nowhere in the Bible does it say Jesus' moral character is transferred to us at the time of salvation.  Christ's obedience is non transferable. John 15:10, 14
Scripture shows us that righteousness is a personal trait and solely belongs to the person possessing it. It is so VITAL that we understand this that we are WARNED not to be deceived in this matter.

"Little children, let no man deceive you: he that doeth righteousness is righteous, even as he is righteous." (1 John 3:7)