Rule 76.22.Assignment of Security or Share.
Part I · Rule 76: Executions · Last amended January 1, 1981 · Last verified July 22, 2026
Full Text of Rule 76.22
Amendment History
Adopted June 10, 1980, eff. Jan. 1, 1981.
Official Comment
This is new. Compare: Prior Rule 76.49.
Plain-English Summary
Securities and shares are not like ordinary personal property — ownership typically depends on a paper or electronic record of assignment, not mere possession. Rule 76.22 accounts for that by requiring a specific written transfer document when a security or share is sold under execution.
The sheriff conducting the sale must execute and deliver to the purchaser a written instrument. That instrument has to do two things: recite that the sale happened and that the consideration was paid, and formally assign the security or share, or any interest evidenced by it, to the purchaser.
This documentation gives the purchaser what is needed to establish rightful ownership of the security going forward — whether presenting it to the issuer, a transfer agent, or anyone else who needs proof that the sheriff's sale transferred the interest.
Frequently Asked Questions
What must the sheriff provide when a security or share is sold under execution?
A written instrument reciting the sale and payment of the consideration, and assigning the security or share to the purchaser.
Who prepares and delivers this instrument?
The sheriff who conducted the sale.
What must the instrument state about the transaction?
It must recite that the sale occurred and that the consideration was paid.
What is the purpose of formally assigning the security in writing?
Because ownership of securities and shares typically depends on documented assignment rather than mere possession, the written instrument gives the purchaser the proof needed to establish ownership.
Does this rule cover shares along with other securities?
Yes. It applies to any security or any share or other interest evidenced by it that is sold under execution.
How does this rule relate to the levy method for securities under Rule 76.06?
Rule 76.06 governs how a security is levied upon in the first place, while Rule 76.22 governs the documentation the sheriff provides once that security is sold at execution.