from what I read you can break it down to relinquish it. thus giving you the dead. I've seen ppl sell theirs this way.

I recently gotten my FC(And House) stolen from me when I was inactive for more then the time period. It was just me and this other girl. When 2.4 came out she came back online and noticed she was master of my FC. Then tied to claim what was mine as hers by booting me out. I confronted her for 2 days cause SE's GMs couldn't or wouldn't do a damn thing about it. She in-turn deleted her Char' and thus deleted the House and FC. I am now back on the same plot I made since the beginning of Housing and FC, which is now new(8/29/2013 est. GONE). The only problem is that the house I could only do it under private.

What if you knocked it down to bare plot could you rebuild it to a FC house? Since you still are the owner of the Deed.