Is there a way for the files that are uploaded into specific folders, the files inherit the properties/metadata of that folder?
Basically every time I upload a file under eg SportFolder it should get the Metadata of that folder.
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You are looking for Location Based Metadata tagging. Go into the library in question, go the library settings, Under General Settings you should see Column Default Value Settings. From here you can set the default values for your folders.
You can also use the document set feature to implement your needs.
In addition, there's two similar situation here: