Albert Barnes Commentary Ruth 4:7

"Now this was [the custom] in former time in Israel concerning redeeming and concerning exchanging, to confirm all things: a man drew off his shoe, and gave it to his neighbor; and this was the [manner of] attestation in Israel." — Ruth 4:7 (ASV)

Formerly in Israel - showing that the custom was obsolete in the writer’s days. The letter of the law (see the marginal reference) was not strictly followed. It was considered sufficient for the man to pull off his own shoe and give it to the man to whom he ceded his right, in the presence of the elders of his city.