Division of subjective rights into rights in rem and contractual rights is fundamental for civil law. This division is rather important for private international law as well, because applicability of lex rei sitae and lex obligationis is determined on the basis of different conflict of law criteria. The difference between the conflict of law rules applicable in each instance stresses the importance of a clear delimitation of the relevant relationships to which they are applied, as the applicability of substantive law of this or other state depends upon such delimitation. The author touches upon a limited aspect of the theme, namely, which of the statutes (lex rei sitae or lex obligationis) governs accrual and cessation of the right of property and other rights in rem in a transaction involving movable property.