摘要： 农用地所有权、承包权、经营权“三权分置”是我国农用地未来制度构造的主导思路。经营权法律性质的合理定位又是“三权分置”制度构造的关键。确权确地形成之土地承包经营权分离出的经营权用益物权论，无论是主要理据还是制度设计均值商榷；而经营权债权论既能契合经营权存在的语境、实现经营权分离的目的，又可避免多层用益物权权利结构之弊。确权确股不确地之土地承包方式创新视阈下分离出的经营权，则存在物权化的合理空间；确权确地形成之土地承包经营权入股农村集体经济组织，不仅是农用地承包方式由确权确地向确权确股不确地转换的适宜通道，而且可成为确权确地之经营权物权化的改造路径。

关键词: &ldquo, 三权分置&rdquo, 确权确股不确地, 经营权, 用益物权, 债权

Abstract: The separation of three rights(collective ownership, contractual right and managerial right)is the leading idea on Chinese future agricultural land system. The legal nature of managerial right is the key to establish the separation of three rights, and scholars are debating that managerial right is usufructuary right or creditor's right. When managerial right is separated from the land contracted management right formed through confirming right and space, if it is considered as usufructuary right, it is questionable regardless of the main reasons or system design; if managerial right is considered as creditor's right, it can match its developing context, realize its separation goal and avoid the shortcoming originating from the multi-layer usufructuary right structure. When managerial right is separated from the land contracted management right formed through confirming right and share but not confirming space, it is reasonably considered as usufructuary right. Investing the land contracted management right formed through confirming right and space into the countryside collective economy organization, is not only the suitable channel that land contracted form transforms from confirming right and space into confirming right and share but not confirming space, but also the path through which managerial right is reformed into usufructuary right.

Key words: Separation of Three Rights, Confirming Right and Share But Not Confirming Space, Usufructuary Right, Creditor's Right