Charles Ellicott Commentary Ephesians 1:14

"which is an earnest of our inheritance, unto the redemption of [God`s] own possession, unto the praise of his glory." — Ephesians 1:14 (ASV)

Which is the earnest of our inheritance.—On the word “earnest” (arrhabôn), a precious gift, as surety for a fuller gift in the future, see 2 Corinthians 1:22. The word “inheritance” has a corresponding meaning. It is a present possession , which will be developed into a more precious future. “We are true members, incorporated in the mystical body of Christ, and also heirs through hope of His everlasting kingdom.”

Until the redemption of the purchased possession.—The “redemption” here is the complete and final salvation from sin and death . The original word here rendered “purchased possession” properly means “the act of purchase or acquisition,” and is so used in 1 Thessalonians 5:9; 2 Thessalonians 2:14; Hebrews 10:39.

But it seems clear that it is here used (in the sense of our version) with that confusion of idea, common in English though rare in Greek, where the result of an action is understood instead of the action itself, so that the word “purchases” is used for “things purchased,” “acquisitions” for “things acquired,” and the like. The transition is marked in relation to this same word in Malachi 3:17; 1 Peter 2:9, where the Israelites are spoken of as “a people for acquisition,” that is, as a people acquired or purchased.