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Share access to your games with everyone inside your home: Your friends and family, your guests and acquaintances get unlimited access to all of your games. Anyone can play your games on your console--regardless of whether you are logged in or their relationship to you.
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Just like you can now in really when anyone can use your console and games.
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Give your family access to your entire games library anytime, anywhere: Xbox One will enable new forms of access for families. Up to ten members of your family can log in and play from your shared games library on any Xbox One. Just like today, a family member can play your copy of Forza Motorsport at a friend’s house. Only now, they will see not just Forza, but all of your shared games. You can always play your games, and any one of your family members can be playing from your shared library at a given time.
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That to me reads that i can share my copy of COD with my dad but not sureif i can still play COD at same time he is playing COD. Does that mean i can play COD but even thou its in my shared library he cant play it at same time but can play any other game?
---------- Post added at 20:17 ---------- Previous post was at 20:13 ----------
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Give your games to friends: Xbox One is designed so game publishers can enable you to give your disc-based games to your friends. There are no fees charged as part of these transfers. There are two requirements: you can only give them to people who have been on your friends list for at least 30 days and each game can only be given once.
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The way i read this thou is i can buy COD on launch date install it to my XBox One and then a few hours later go round his house and give him the disk and keep the game. I also read it that he wont be able to use it from the cloud thou and will need the disk to play