In Titus 2:14, the Greek term translated as “peculiar” in the King James Version literally means “one's own” or “one's own possession.” God’s people are special because they are God’s own possession. They are God's own, and so are therefore distinctive because nobody else owns these called-out ones. In 1 Peter 2:9, some modern translators have replaced the King James word “peculiar” with an expanded version, something similar to “His own special possession,” implying the same specialness and distinctiveness due to ownership.
Additional scriptures referenced include Titus 2:13; Ephesians 1:14; Philippians 1:9-11; and 1 Peter 2:10.
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