So what happens if in my solo play i purchase a plot of land and build a house, and then decide to play online? How will the game synchronize my world status with the other players' world status? What will happen if another player has already purchased in his solo play the plot of land that i purchased?
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This is the case. Your offline characters won't be available in the online version because two people can't occupy the same plot of land in the online.
Also note that online can be played solo, in fact you will have a lot of control over who if anybody you will see online. You can choose from single player online (solo) to friends online (friends only) to open player online (anyone).
Ultima Online
Mystic of The Fallen Lords (Pacific 98-01)
Mystic of Catskills (03 - 08)
There have also been a few chats about how you can play offline mode for a short period of time, ie on a plane or internet offline, and still be able to carry some of that through back with you into online mode. So seems like that is on the table also.
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It's a little more intricate than is described here. Currently temporary offline although it has been brought up by Richard on several occasions isn't going to be in Episode 1 I've had that clarified by the devs a few times. As for Single player if you're in Single Player Online than it's exactly the same synced world as Friends Only and Multiplayer Online so if you have a house in a plot everyone sees it and you can't place a how where someone else has placed their house even if you're in Single Player Online.
You can find more information about how online works in this thread sotawiki.net/sota/Selective_Multiplayer_Online