What does it mean that Christ's righteousness is imputed to believers?

The doctrine of imputed righteousness asserts that believers are justified before God by receiving Christ's righteousness as their own through faith. Romans 3:24 articulates this truth, indicating that we are justified freely by His grace through the redemption that is in Christ Jesus. This imputation means that the righteousness of Christ, perfect and unblemished, is credited to the account of the believer, allowing for reconciliation with God. Consequently, it not only serves as the basis for our justification but also empowers our regeneration and new life in Him, as noted in Romans 8:10, which states that if Christ is in you, the body is dead because of sin, but the spirit is life because of righteousness.