I have been given a peice of land valued at $110,000.00 but do not want to build in the area where the land is located. It has been in the family for many years and I do not want to sell it either. Can I use this land as collateral to buy a home somewhere else? I have been told by one person that I can not unless I put a small cottage or home on this property??? If this is the case what are the requirements of this cottage for it to qualify so I can use it????