Who is Under Grace

The Grace
of God. It's a huge topic, and a critical concept. Like almost everything else
in our relationship with God, learning to define the functions of grace as God
does in His Word is imperative. Because if God has one definition of the
functions of Grace, and our definition of Grace is critically different from
how God defines grace, many of God's people may end up believing that they are
under Grace, when they are in reality Not fulfilling HIS definition of what it
means to be under HIS Grace. So how does God's Word say that Grace functions?
Does the grace of God really ONLY provide salvation and forgiveness of sins?
Or, does God's biblical grace also provide for our transformation, and does it
in power us and give us the ability to obey God, and do what He Commands? Who
is truly under grace?