I am a complete newbie when it comes to this sort of thing. Is it possible for someone to own multiple domain names. However, have a second person use one of those names on there own site. I tried researching this, but I couldn't find an appropriate answer.
Sorry, I will try to explain it better. I will be making a few websites for some friends of mine. They will be paying to have the sites hosted. If I pay for the domain names, will they be able to use those names or will I have to pay for there sites to be hosted as well. I hope I explained it better.
Since you registered the domain names, they are free for you to use as long as it has not expired. You are free to reassign it to anyone you want, as long as the domain names have not expired and registered in your name, they are under your ownership. Web hosting and domain names does not necessary have to be related. Meaning that you can register a domain name in one registrar and use the web hosting services of another web host. So yes, you can let your friends use your domain name but they need to be clear that you still own the name, all you need to do is to point the DNS Servers settings to whichever web host they use and it be all set.
How can they use just a Domain Name if they have some money then they can buy some Cheap Hosting and Host the domain there, if not.. and you'd like to help them ... then you can do it for them
Yes. You can OWN a domain, then set the DNS information to the other person's server. This is how someone would "lease" a domain to another person.