Equity Home Loans

Tax implications of shared-equity mortage versus title change.?

I have been sharing a home with my boyfriend for almost 15 years. The house mortage is paid off but we are looking at doing some home improvements using the home equity. My boyfriend has suggested adding my name to the title and then get a home equity loan in both of our names. I was wondering about the tax implications of this arrangement in CALIFORNIA. If this is not feasible solution, I was wondering if I should look into buying a 25% interest in his home as another solution? Please provide any recommendations...

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