In the Old Testament the Inheritance was often seen as the land promised to God's Chosen People. Hebrews 9:15 and other passages show us that now eternal life is called our "inheritance".
Likewise God also gives unto Himself an inheritance; the passage below in the original Greek would be better written as "We have been made an inheritance {by God and for God}." In Psalms this is seen as the God-man JC receives the Nations as His inheritance (PS 2:8). Isaiah 19:25 calls Israel God's inheritance. Zephaniah 3:17 describes the Lord rejoicing over His people as one would a great inheritance.
The thought that God, by His grace, would make us into His inheritance is a grand thing. He does this "according the the council of His will." (EPH 1:11) This is the eternal decree of His divine Providence - the One who is all powerful, who has created all things, also steers all events down to the smallest detail, as it is clear in Scripture that all things great and small, good and evil, are included in our God's sovereign ordination of history. Such a truth comforts us greatly, as it guarantees that He will use everything that happens in our lives to make us finally fit to be regarded as His inheritance (ROM 8:28).
EPH 1 :11-12
In Him we have obtained an inheritance, having been predestined
according to the purpose of Him who works all things according
to the counsel of His will, so that we who were the first to hope
in Christ might be to the praise of His glory.
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