We all inherit something from our mothers and fathers; namely their genes. We may not inherit property, possessions or money, but we inherit sin through our parents who inherited it from Adam via their ancestors (Romans 5:12). Irrespective if our parents were pious believing Christians at the time of our birth, we still inherit sin passed down through them from their ancestors going back to Adam (Romans 3:23).
Nevertheless God sees all believers as He sees His only begotten Son (John 1:18); i.e., as perfect (Colossians 1:28) in His righteousness, despite the fact that they retain their bodies of sin (Romans 6:6; 8:10) until death. Afterwards, when Christ comes again (Matthew 16:27) to bring them into His eternal kingdom to give them an eternal inheritance (Hebrews 9:15) their bodies will be transformed, and they will be resurrected (John 6:45) with new spiritual bodies (1 Corinthians 15:44).
God’s Promise of an Inheritance for His Old Testament People
God promised He would give His ‘Special People’ (Deuteronomy 7:6), i.e., the Old Testament Jews, a specific land flowing with milk and honey (Numbers 14:8; Deuteronomy 6:3) where they would find peace (Psalm 72:7) and plenty (Joel 2:26). To enter in and possess the land they agreed with God and pledged they would obey Him (Exodus 19:8). If they were to obey Him, He would fight their battles (Joshua 10:14) and take them into the land of Canaan.
God brought them out (Acts 7:36) of slavery from Egypt under the leadership of Moses who led them to the borders of the promised land. There he died (Deuteronomy 34:1-5) because God did not allow him to enter the land on account of his disobedience (Numbers 20:11, 12). Moses saw the land, but he did not receive the inheritance. The promise for him has yet to be fulfilled, for he was faithful, truly believing and trusting God (Numbers 12:7; Hebrews 3:1-6).
It had been a forty-year tortuous journey through the desert (Deuteronomy 8:4). All apart from two of the original adults who departed from Egypt died in the wilderness along the way because of their lack of faith and disobedience. The exceptions were Joshua and Caleb, because they had been faithful and obedient (Joshua 14). Under the leadership of Joshua those who had grown up to become adults and their children entered Canaan where they overcame many kings and kingdoms, dispossessing them of their lands and property (Joshua 24:18). Eventually, King David reigned as King of the United Kingdom of Judah and Israel (2 Samuel 5:5). Under the reign of his son, Solomon, there was peace (1 Chronicles 22:9) and prosperity (1 Kings 10:27) just as God had promised.
God’s Promise of an Inheritance for His New Testament People
Under the old covenant of works, i.e., the Mosaic Covenant (Exodus 34:27, 28), God fulfilled his promise of a physical land as an inheritance for His people. They would live there in peace and prosperity. It was conditional, according to their faith and obedience (Deuteronomy 30:10) as worked out in practice.
God’s promise for His New Testament people was also conditional, but on the part His Son who would fulfil all that the prophets foretold of Him (Luke 24:44). Jesus agreed with His Father to be sent to the earth where He would live an obedient (Philippians 2:8) and faithful life to His Father on the part of those who would believe in Him (Galatians 4:4, 5). He would die (Luke 23:32, 33) and suffer on their behalf to pay for their sins (1 Peter 2:24), and He would be raised to life (Acts 10:40) to give them new spiritual life and new spiritual bodies (1 Corinthians 15:44). He would transform them completely to be fitted for an eternal inheritance in heaven (Hebrews 9:15). There they would have a perfect life of peace and prosperity without pain (Revelation 21:4) or sadness.
His New Testament people, i.e., all those who are born again of the Holy Spirit (John 3:3-8), figuratively travel through a desert land which is this corrupt (2 Peter 1:4) and evil world where the devil and his cohorts have but a short time (1 Corinthians 7:29) before it (2 Peter 3:10) and they are utterly destroyed (Revelation 20:10).
Christ overcame satan at his resurrection when He triumphed over sin and death (Colossians 2:15). He did away with the Mosaic covenant, having fulfilled it and instituted the new covenant (Hebrews 9:15) in His blood (Matthew 26:28), which is a covenant of grace whereby believers are forgiven their sins (Matthew 9:6; John 3:16). His elect (Romans 8:33) are given the gift of faith (Ephesians 2:8, 9) and they are empowered by the Holy Spirit (1 Corinthians 2:4, 5) for obedience to Him.
Because of this, Christ’s people reign with Him (Revelation 20:6) in their faith and obedience. He is their King (John 18:37) and Lord (1 Thessalonians 1:1) who gives them abundant life (John 10:10) and a wonderful inheritance (John 14:2; cf Ephesians 5:5; Colossians 3:24) in His kingdom. They are His special people, a chosen people, priests (1 Peter 2:9), kings and brothers of Christ.
Their prize (Philippians 3:14) and inheritance is Christ Himself with all His glory (1 Peter 4:13) in whom they live eternally.