The article deals with the history of occurrence and development of superficies as a limited property right, its regulation in Roman Law, German Civil Law (GCL), pre-revolutionary Civil Code of Russia, in particular the systematic analysis of the Law on Building Tenancy of 1912. The historic legal study is given to the prospects of including the building tenancy into the system of limited property rights of the Civil Code of the Russian Federation. The consideration is given to the building tenancy model suggested by the concept of development of the civil law of the Russian Federation as one-time granted long-term limited right on property according to which the right holders pay for the right to use the land plot, to erect buildings, premises in their interests for the period of the building tenancy right. The conclusion is drawn that historically verified and consequent introduction of the building tenancy institution in the Russian legal system on the one hand will secure certainty in real estate rights determination according to the principle of superficies solo cedit, on the other hand, it implies deep changes in the Russian property rights system due to the potential circulability of the building tenancy.