In principle, there is no substantial difference between the two concepts. Both gift and donation refers to giving something of value to another person voluntarily, without consideration.
However, they are used differently.
Donation is used in situations when there is a specific purpose of the transaction, such as supporting an charitable organization or transferring title to a property without consideration. The document used in such situations is typically called Deed of Donation. The parties to this type of transaction are called donor and donee.
If the donation is made during the lifetime of the donor, it is called donation inter vivos, whereas a donation made in expectation of the death of the donor is called donation a mortis causa (or simply donation causa mortis).
Gift is used much more generally, without the need for the above specificities. Gifts may be given for birthdays, Christmas, etc. and any other occasion, without the need of a special cause.
We also see this term in legal documents, where the legal implications of giving something away for free is regulated. Gift tax are often imposed on this transactions. Corporate policies often regulate the conditions of accepting gifts by employees in the so called Gifts and Entertainment Policy.
Retail companies frequently use so called “gift certificates” to promote sales. Testamentary documents also provide for gift, especially if given during the lifetime of the decedent (lifetime gifts). Documents regulating this type of giving can also be called “Deed of Gift”
