A teaching (direct really from Kenyon if unknown by most) is that Jesus became actual sin. So in turn on believing, we become actual righteousness. In other words the nature of Satan (we were supposed to have) is removed. Instead, God places in the Divine nature in entirety as a nature. That is great error. Jesus is the pure and spotless lamb of God. Our sin never became part of His nature, whether human or Divine. It could not. Being Divine, He is sinless. As a human, He had a perfect and sinless nature. It was impossible for Him to sin. We see this in what the angel said to Mary: “And answering, the angel said to her, The Holy Spirit will come upon you, and the power of the Most High will overshadow you, and for this reason that Holy One being born of you will be called Son of God” Luke 1:35. We in turn do not receive the Divine nature. This Divinity is without possibility of unholiness or unrighteousness. We while on earth in these bodies are never without the ability to sin. We have a carnal nature still, the old man. To receive the full Divine nature would make us God Himself. That is blasphemy. We do not know all things. We can never be everywhere. We do not have all power. We could never create the world.
Our new nature is not even in the likeness of the Divine nature. James 3:9 says “made after the likeness of God” RV and “made after the similitude of God” KJV with “have come into being according to the image of God” MKJV. The Greek word is .homiosis meaning likeness or resemblance. There is also: “And put on the new man, which after God hath been created in righteousness and holiness of truth” RV (Eph.4:24). Holiness and righteousness are attributes of truth. It is the opposite of the deceit of v.22. This verse clarifies it further: ” For whom he foreknew, he also foreordained to be conformed to the image of his Son” RV (Rom.8:29).
When we look at the description of Jesus Christ in Hebrews 1:3, we read this about Him: “who being the effulgence of his glory, and the very image of his substance, and upholding all things by the word of his power” RV; “He is the radiance of the glory of God and the exact imprint of his nature, and he upholds the universe by the word of his power” ESV; and “who being the shining splendor of His glory, and the express image of His essence, and upholding all things by the word of His power” MKJV. The Greek word is eikon meaning representation or image. What is spoken about Christ is not even mentioned about us either as physical beings in our born again nature, that after all is a creation. The things spoken about the Lord Jesus can never be applied to us. We are not the radiance of the glory of God and the exact imprint of his nature, for example. We do not hold the whole world in our hands by the words we speak. In fact, nowhere in the Bible does it say that the words we say are creative. That is another error and heresy.
Therefore to say with the meaning of Prince and the others, “As He is so am I in this world” is gross error. Salvation and being born again stands on imputation, or reckoning of sin to Jesus and of righteousness to us.. The facts of salvation are shown in the following verses of Romans 4:222-8: “For if Abraham was justified by works, he has a boast, but not with God. For what does the Scripture say? “And Abraham believed God, and it was counted to him for righteousness.” Gen. 15:6 Now to one working, the reward is not counted according to grace, but according to debt. But to the one not working, but believing on Him justifying the ungodly, his faith is counted for righteousness. Even as also David says of the blessedness of the man to whom God counts righteousness apart from works: “Blessed are those whose lawlessnesses are forgiven, and whose sins are covered; blessed the man to whom the Lord will in no way charge sin.” LXX-Psa. 31:1, 2; MT-Psa. 32:1, 2.
I quote a comment from Barnes: ‘”This a Hebraism, meaning the same as divinely righteous. It means that we are made righteous in the sight of God; that is, that we are accepted as righteous, and treated as righteous by God on account of what the Lord Jesus has done. There is here an evident and beautiful contrast between what is said of Christ, and what is said of us. He was made sin; we are made righteousness; that is, he was treated as if he were a sinner, though he was perfectly holy and pure; we are treated as if we were righteous, though we are defiled and depraved. The idea is, that on account of what the Lord Jesus has endured in our behalf we are treated as if we had ourselves entirely fulfilled the Law of God, and bad never become exposed to its penalty. In the phrase ‘righteousness of God,’ there is a reference to the fact that this is his plan of making people righteous, or of justifying them. They who thus become righteous, or are justified, are justified on his plan, and by a scheme which he has devised. Locke renders this: ‘that we, in and by him, might be made righteous, by a righteousness imputed to us by God.’ The idea is, that all our righteousness in the sight of God we receive in and through a Redeemer. All is to be traced to him. This verse contains a beautiful epitome of the whole plan of salvation, and the uniqueness of the Christian scheme. On the one hand, one who was perfectly innocent, by a voluntary substitution, is treated As if he were guilty; that is, is subjected to pains and sorrows which if he were guilty would be a proper punishment for sin: and on the other, they who are guilty and who deserve to be punished, are treated, through his vicarious sufferings, as if they were perfectly innocent; that is, in a manner which would be a proper expression of God’s approbation if he had not sinned. The whole plan, therefore, is one of substitution; and without substitution, there can be no salvation. Innocence voluntarily suffers for guilt, and the guilty are thus made pure and holy, and are saved. The greatness of the divine compassion and love is thus shown for the guilty; and on the ground of this it is right and proper for God to call on people to be reconciled to him. It is the strongest argument that can be used. When God has given his only Son to the bitter suffering of death on the cross in order that we may be reconciled, it is the highest possible argument which can be used why we should cease our opposition to him, and become his friends”.
This has been the belief of all evangelicals, fundamentalists and Pentecostals going back a few centuries. It is about imputation.