A message saying new vault could not be added. ensure that destination path has appropriate permissions. What does this mean and what do I do about it?

Adding new vault a message saying "New vault could not be added. Ensure that destination path has appropriate permissions and that vault has a unique name.
What do I do?

Check to make sure you have write permissions on the folder you are trying to make the vault in and that there are no other vaults in that folder using the name you are trying to use to make this new vault.

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