Simply put, time-like or light-like is our known spacetime where [causality][1] is dictated by the $c$ speed of light upper limit inside the vacuum.

Space-like is a hypothetical spacetime where causality is dictated by *faster than light FTL* speed limit and when projected in our time-like spacetime this would resemble to *"Instantaneous action at a distance" or else known by famous Einstein as "*Spooky action at a distance*".*

However, such a spacetime domain has not yet being discovered therefore not regarded today as a  possible explanation for the observed [Quantum Entanglement][2] phenomena.

Nevertheless, Dark Energy seems to have a space-like spacetime behavior.


  [1]: https://en.wikipedia.org/wiki/Causality
  [2]: https://en.wikipedia.org/wiki/Quantum_entanglement