Save library as template with default column values from metadata/term store
If you save a document library as a template, and the library contains default column values from metadata... 1) The defaults will not work in libraries created from the template. 2) You will get an error if you try to change the defaults. The workaround is to save the template without default values and manually set in libraries created from the template.
Cyrille Wolfs commented
Could someone get an update of this, because I'm running into this issue as well.
Have lots of documentlibraries to create, which need to contain the default column values.