Many types of cancers are associated with changes in tissue mechanical properties. This has led to the development of elastography as a clinically viable method where tissue mechanical properties are mapped and visualized for cancer detection and staging. In quasi-static ultrasound elastography, a mechanical stimulation is applied to the tissue using ultrasound probe. Using ultrasound radiofrequency (RF) data acquired before and after the stimulation, the tissue displacement field can be estimated. Elasticity image reconstruction algorithms use this displacement data to generate images of the tissue elasticity properties. The accuracy of the generated elasticity images depends highly on the accuracy of the tissue displacement estimation. Tissue incompressibility can be used as a constraint to improve the estimation of axial and, more importantly, the lateral displacements in 2D ultrasound elastography. Especially in clinical applications, this requires accurate estimation of the out-of-plane strain. Here, we propose a method for providing an accurate estimate of the out-of-plane strain which is incorporated in the incompressibility equation to improve the axial and lateral displacements estimation before elastography image reconstruction. The method was validated using in silico and tissue mimicking phantom studies, leading to significant improvement in the estimated displacement.