Contract Dispute

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dave75navy

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I would appreciate any advice on how to handle this situation of mine. I am leasing (with option to buy) my house in Alabama to what I thought were friends of ours. Here's the basics of my situation. I moved out of state to start my new job as my wife stayed behind to pack up the house while it was on the market. We weren't getting any bits on the house, so I decided to lease it to a couple. I came back to the house two weekends prior to moving wanting to get together with this couple so we could hash out a contract...they declined both times. Instead they presented us with a contract literally as we were moving out hours before our move. Once giving everyone time to settle, I informed the couple that I wanted to revise the contract because some of the information in the contract needed to be updated (i.e. the mortgage lender and the mortgage also increased) and I was basically uncomfortable with having only a one page contract. Of course this offended the couple leasing my house. They pointed out a clause in the original contract that stated that I would owe them all the money that they paid to live in my house if I terminated the contract. This wasn't explained to me in that manner as I asked about that particular clause in the mist of packing and moving boxers as the movers were about to arrive. The way that clause was explained to me and how I interpreted was that the house would be sold to them for the amount of the existing loan and not the market value based on the possible increasing market value during the time they are living there. Believe me, why would I or anyone else knowingly sign a contract that makes me liable to pay back every single penny to get my own house back? All the money the couple pays towards leasing the house goes directly to the mortgage lender and I do not profit from them leasing my house.

So here are my questions. (1) Can I rightfully claim that the contract is void because I signed it under duress and stress considering I signed it during the final moving day without having the opportunity or time to have the contract reviewed by a professional before leaving the state for good? (2) Is the contract binding if it was not notorized? (3) Is the contract binding if they used an incorrect name on the contract and signed with using that non-legal name?...the couple turned out not to be married but the woman signed the contract using the man's last name which is not her legal name. (4) Can and will a court award the tenants all the money that they paid to live in my house if I terminate the contract even though I do not profit from the lease of my house and that they would have to pay to live someplace else if they didn't decide to lease my house from the start? (5) Is the contract binding if the contract does not reference any Alabama state laws and the contract is not an official Alabama state form or template?
 
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