The belief that the bread and wine of the eucharist actually become the body and blood of Christ when consecrated by a priest
Transubstantiation was reaffirmed by the council of Trent
Transubstantiation is the basic Catholic belief
You will be denounced as a heretic (or worse a protestant) if you don't agree with transubstantiation
Transignification
The belief that Christ is sacramentally but not physically present in the consecrated bread and wine, that all effective signs consist of two parts: "signifier" and "signified" in the eucharist the signifier is the substance of the bread and wine, whilst the signified is the substance of Christ's body and blood
Transignification
That two kinds of presence, local and personal. Pupils may be "locally present" in a class but if their thoughts are far away then they are not "Personally present", in the eucharist Jesus is personally, but not locally present
Transignification was proposed by Schilebedckx
Transignification was condemned by Pope Paul VI in "Mysterium Fidei"
Transignification is allowed if it compliments transubstantiation
Transfinalization
The belief that when the bread and wine are consecrated their purpose and finality is changed, but not their substance - they serve the new function - which is to stir up faith in the mystery of Christ's redemptive love
Transfinalization was condemned by Pope Paul VI in "Mysterium Fidei"
Consubstantiation
The belief that the body and blood of Christ co-exist with the consecrated bread and wine of the eucharist - they remain bread and wine but Christ is spiritually present "with them, in them and under them"
Consubstantiation is often associated with the beliefs of Luther
Luther never actually believed in consubstantiation, and a lot of Lutheran churches reject it as unbiblical
Luther actually used the term "sacramental union"
Memorialism
The belief that the consecrated bread and wine of the eucharist are merely symbolic representations of Christ's body and blood
Memorialism describes the view held by Zwingli
Memorialism denied the real presence of Christ within the eucharist
Memorialism is based on Luke 22:19 "do this in memory of me"
Virtualism
The belief that Christ's unique power (LT "Virtus") is present in the consecrated bread and wine, but that this power is received only by the predestined elect
Virtualism describes the view held by Calvin
Virtualism came from Calvin's views on predestination (double predestination)
Virtualism denies Christ's physical presence because he has ascended (Acts 1:9-11)