Considering the legislation practice, defining the nature of real right, the author believes that real leasehold is usufruct of real property in nature.

• 综合对各国关于不动产租赁权的立法实践，厘清不动产租赁权的性质，对传统的租赁权物权化进行批判，还原租赁权的物质本性，认为不动产租赁权是用益物权。