sciencegravy
You mean "collateral"?
Well, yes - but if the land is then lost due to default of the agreement, it's possible that you may lose access to the house, or you'll have to pay rent to keep the house on the land, or, depending on the terms of the collateral agreement - the house my be forfeit along with the land.
I would NOT build a house on land that is part of a collateral deal until the term of that are finished, and you know who owns the lot.