TD transfer to others happens, so it's best to play it safe with kids especially. Women have some similar hormones, but again, best to avoid contact if possible.
The majority of active ingredient should penetrate the skin relatively quickly, and get deposited by the fatty tissue under the skin for gradual release/absorption. However, there's always going to be some active that doesn't penetrate, a lot depends on the carrier and how exfoliated/permeable your skin is. The general rule of thumb is the faster it dries/absorbs, the better it is.
I don't know about timing, but I believe what you get in within the first ~1 hr is most of what you're going to get. The rest will rub off on clothing or whatever else you come in contact with. Those active ingredients don't go inactive just because they didn't penetrate. They'll "live" on you until washed/rubbed off on something else. If they rub off on another person, there's a chance that the small portion that was left on you will penetrate their skin.
Regardless, it's not going to be that much that you need to worry about it too much, I just would exercise more caution with young children and after the first hour of application.