The album is due out on September 20 and follows on from their critically acclaimed Beautiful Things project.
It was written primarily by the Michael Gungor, who lends his name to the band, and his wife Lisa.
Inspiration for the album came from the birth of Michael's daughter and his weeklong meditation in Assisi, where he reflected on the Saint's view of the world.
The album features a boy's choir, a six-person string ensemble and vocals by Lisa.
It kicks off with a musical imagining of the creation of the universe and traverses subjects like the fall of man and the imperfection of religious systems, before leading listeners back to a sense of wonder and thankfulness at the beautiful gift of life.
The interesting title comes from an allegory by C.S. Lewis titled The Great Divorce, in which the "ghosts" of a grey town encounter a heaven that is astonishingly real.
"Sometimes it seems like the most real thing is what we can see and experience with our senses around us – this life, the tangible," Michael explains.
"Ideas like love, like God, these things sometimes feel more disconnected and ethereal, like that's the ghostly realm.
"This is turning it on its head, recognising that God is real, love is real, and we are the ghosts walking upon the earth, wanting to become more real."