The paper provides a detailed analysis of the current real property law institute of building rights. It explores its historical development, starting with the disruption of the once imperative rule expressed in the principle of superficies solo cedit, through various forms of separation of land and buildings (such as superficies) to the building rights as recognized by contemporary Croatian legislation. The paper examines all the most important aspects of this institute, such as its most significant features, legal nature, and land as the subject of building rights. Particular attention is given to its essential and optional content, as well as the associated rights and duties of the holder of building rights, depending on whether there is already a building on the land or not. It also covers its acquisition, protection, and termination, as well as many other aspects of this institute, which, although relatively new in our legal system, is very relevant.