Gets or sets a value that specifies whether parsing is enabled for document libraries of the website.
Assembly: Microsoft.SharePoint (in Microsoft.SharePoint.dll)
Available in Sandboxed Solutions: Yes
Available in SharePoint Online
As a practical matter what it means for this property to be true is that when a document is added to a document library, the values of the fields in the list item for the document are added to the metadata properties of the document file. For example, if you upload a Word document and then download it again, you can see the field values in the advanced properties dialog of the Word file.