What is classified as a psychologically affected home under Indiana Real Estate License Law?

A home where a person died is classified as a psychologically affected home under Indiana Real Estate License Law because the law recognizes that certain events, particularly those that take place within the home and may have emotional implications, can influence a buyer's perception of a property. This classification is intended to address any potential stigma or impact that the knowledge of a death in the home might have on prospective buyers, even if the death was due to natural causes or occurred a significant time ago.

The classification does not include structural issues, renovations, or flooding history, as these factors are generally regarded as physical conditions of the property rather than psychological impacts that might affect its desirability or the emotional experience of living in the space. Hence, the focus on emotional and psychological aspects specifically distinguishes this classification from typical property disclosures related to physical conditions.