While adding, editing or viewing a record, you can share it directly with one or more members and/or teams. The share with users and teams option is available at the bottom, while viewing a record or editing a record. Please note - you can share a record if you have edit permissions for that record.
At the bottom, the 'share' segment allows you to share the record with a member or with a team.
Sharing a record with one or more members: This allows the members to view and edit the record. It shows up in their All Records & Shared Records filter.
Sharing a record with one or more teams: This allows the members of the team to view record. Team Admins can edit the record. It shows up in their All Records, Shared Records filter and in the list of the team record is shared with.
Share segment in the add/edit dialog:
Share segment in the view record:
Note - If a record is not shared, then it is a personal record of that user who created the record. At any point, user can share it with one or more members and/or one or more team. It then becomes a shared record