I've always looked upon my ownership of a timeshare as similar to owning a year round condo. The difference is, on one hand, you own year round and, on the other hand, you own only one week. But both are deeded pieces of real estate.
For the one week that I am the owner of a timeshare, I would expect to be able to rent it or give it away or stay in it myself if I so desire. Of course, if I punch a hole in the wall of my year round condo, I can leave it that way if I choose. On the other hand, in the case of my timeshare, someone else is coming in right after I or my tenant or my guest vacate and the damage will have to be repaired (at my expense, of course).
But I'd be very concerned if my homeowners association passed any rules and regulations restricting my ability to do with my week what I'd like to do in regards to gifting or renting.
Most will not have any such restrictions. The one I've heard about is a resort not allowing its owners to rent out parts of weeks (for example, 3 or 4 days out of the 7). That particular resort regarded shorter term renters as being most likely to cause damage. But then I found out that the Board of Directors all owned multiple weeks and rented them out using the timeshare management company which used Expedia. Which meant maybe two days, then maybe three days, then maybe two days again. So, in that case, what was good for the goose was not good for the gander.
Lest you think timeshare buying and renting is a great business idea, for the average timeshare, it is VERY unlikely that you will recoup your maintenance fees, if you manage to rent at all. There may be exceptions like Disney timeshares, but those most often involve significant upfront costs.