Get an attorney NOW! 99.9% of rent to own agreement fail for a whole slew of reasons. In fact I do my best to discourage anyone from these horrible deals. You need an attorney to review the document to see if you can salvage this or if you need to get money back and move on.
Also, many people think notarizing a document makes it more legal than without the notary. In fact, all a notary's seal means is that he/she checked the id of who signed the document. It has nothing to do with the document being legal or not.
This is not something that can be answered online without being able to review all the documentation that you have. If this house, and your investment, mean anything to you, you should hire an attorney soon.
The information provided by Attorney Matthew V. Silva is based upon the generic and ambiguous facts presented in short questions. Without a full consultation with an attorney, you should not rely upon any information presented in this forum. The intricate facts of every case are different. The information provided is not legal advice and should not be the basis of any decision without the actual guidance of an attorney. Further, any information provided by Attorney Matthew V. Silva should not be perceived as a willingness to represent you or actual representation. If you would like to speak with Attorney Matthew V. Silva, please call Silva and Sweet, PLLC at 910-333-9833 or visit www.silvaandsweet.com.
It is not possible to answer this question without actually seeing the signed agreement. You should try to find a lawyer that will give you a free or low cost initial consultation on this matter.
This answer is for information purposes only, and does not establish and attorney client relationship. James Faucher is licensed to practice law in North Carolina only. You should always contact a local attorney to get location specific answers about the law. Benson, Brown & Faucher, PLLC 822 N Elm St., Suite 200 Greensboro, NC 27401 (336) 478-6000