Exhibit
5.1

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lawyers@saul.com
www.saul.com
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May 22, 2008
Corporate Office
Properties Trust
6711 Columbia Gateway
Drive
Suite 300
Columbia, Maryland 21046
Re:
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Registration Statement
on Form S-8
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1998 Long Term
Incentive Plan/2008 Omnibus Equity and Incentive Plan
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Ladies and Gentlemen:
We are issuing
this opinion in connection with the registration by Corporate Office Properties
Trust, a Maryland real estate investment trust (the Company), pursuant to a
registration statement on Form S-8 (the S-8 Registration Statement)
filed under the Securities Act of 1933, as amended (the Act), of (i) 1,043,778
common shares of beneficial interest, $0.01 par value, of the Company that may
be issued under the Companys 1998 Long Term Incentive Plan, as amended (the 1998
Plan) and (ii) 2,900,000 common shares of beneficial interest, $0.01 par
value, of the Company that may be offered and sold under the Companys 2008
Omnibus Equity and Incentive Plan (the 2008 Plan). The 1,043,778 common shares of beneficial
interest and the 2,900,000 common shares of beneficial interest are
collectively referred to herein as the Common Shares.
As a basis for our
opinions, we have examined the following documents:
(i) the
S-8 Registration Statement filed by the Company with the Securities and
Exchange Commission (the Commission) under the Act;
(ii) the
Amended and Restated Declaration of Trust of the Company dated March 3,
1998, as amended October 12, 2001, September 12, 2003 and December 28,
2004, and as supplemented from time to time (the Declaration of Trust);
(iii) the
Bylaws of the Company (the Bylaws);
(iv) resolutions
adopted by the Board of Trustees of the Company on March 12, 1998, February 24,
1999, March 21, 2001 and May 22, 2008 (the Resolutions);
Lockwood Place ·
500 East Pratt Street · Baltimore, MD
21202-3171
Phone: (410) 332-8600 ·
Fax: (410) 332-8862
BALTIMORE CHESTERBROOK
HARRISBURG NEWARK PHILADELPHIA
PRINCETON WASHINGTON WILMINGTON
A DELAWARE LIMITED
LIABILITY PARTNERSHIP
(v) a
good standing certificate for the Company from the Maryland State Department of
Assessments and Taxation dated May 21, 2008;
(vi) the
1998 Plan and the 2008 Plan;
(vii) a
certificate of the secretary of the Company as to the authenticity of the
Declaration of Trust and Bylaws of the Company, the resolutions of the Companys
trustees approving the filing of the S-8 Registration Statement, and other
matters that we have deemed necessary and appropriate; and
(viii) such
other documents and matters as we have deemed necessary and appropriate to
express the opinions set forth in this letter, subject to the limitations,
assumptions and qualifications noted below.
In reaching the opinions
set forth below, we have assumed:
(a) the
genuineness of all signatures, the authenticity of all documents submitted to
us as originals, the conformity to originals of all documents submitted to us
as certified or photographic copies, and the accuracy and completeness of all
documents;
(b) the
legal capacity of all natural persons executing any documents, whether on
behalf of themselves or other persons;
(c) that
all persons executing any documents on behalf of any party are duly authorized;
(d) that
there will be no changes in applicable law between the date of this opinion and
any date of issuance or delivery of the Common Shares;
(e) that
at the time of delivery of the Common Shares, all contemplated additional
actions shall have been taken and the authorization of the issuance of the
Common Shares will not have been modified or rescinded;
(f) that
the issuance, execution and delivery of the Common Shares, and the compliance
by the Company with the terms of the Common Shares, will not violate any
then-applicable law or result in a default under, breach of, or violation of
any provision of any instrument or agreement then binding on the Company, or
any restriction imposed by any court or governmental body having jurisdiction
over the Company;
(g) that
the consideration received or proposed to be received for the issuance and sale
or reservation for issuance of any offering of the Common Shares of the Company
as contemplated by the S-8 Registration Statement is not less than the par
value per share; and
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(h) that
the aggregate number of shares of the Company which would be outstanding after
the issuance or reservation for issuance of the Common Shares, and any other
contemporaneously issued or reserved common shares or preferred shares,
together with the number of common shares and preferred shares previously
issued and outstanding and the number of common shares and preferred shares
previously reserved for issuance upon the conversion or exchange of other
securities issued by the Company, does not exceed the number of then-authorized
shares of the Company.
As to various questions
of fact material to our opinions, we have relied upon a certificate and
representations of Karen M. Singer, as Secretary of the Company, and have
assumed that the Secretarys Certificate and representations continue to remain
true and complete as of the date of this letter. We have not examined any court records,
dockets, or other public records, nor have we investigated the Companys
history or other transactions, except as specifically set forth in this letter.
Based on our
review of the foregoing and subject to the assumptions and qualifications set
forth in this letter, it is our opinion, as of the date of this letter, that:
1. The
Company is a real estate investment trust duly formed and existing under and by
virtue of the laws of the State of Maryland and is in good standing with the
State Department of Assessments and Taxation of the State of Maryland.
2. The
Common Shares have been duly and validly authorized and, when the Common Shares
are issued and delivered in the manner and for the consideration contemplated
by the 1998 Plan and/or the 2008 Plan, will be validly issued, fully paid and
nonassessable.
In addition to the
qualifications set forth above, the opinions set forth in this letter are also
subject to the following qualifications:
(i) We
express no opinion as to the laws of any jurisdiction other than the laws of
the State of Maryland. We express no
opinion as to the principles of conflict of laws of any jurisdiction, including
the laws of the State of Maryland.
(ii) We
assume no obligation to supplement our opinions if any applicable law changes
after the date of this letter or if we become aware of any facts that might
alter the opinions expressed in this letter after the date of this letter.
(iii) We
express no opinion on the application of federal or state securities laws to
the transactions contemplated in the S-8 Registration Statement.
This opinion is being
furnished to you, for your benefit, and for your transfer agent, Wells Fargo
Shareowner Services, who may rely on this opinion. The opinions expressed in this letter are
furnished only with respect to the transactions contemplated by the S-8
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Registration Statement. The opinions expressed in this letter are
limited to the matters set forth in this letter, and no other opinions shall be
implied or inferred beyond the matters expressly stated.
We hereby consent to the
filing of this opinion as an exhibit to the S-8 Registration Statement and to
the use of the name of our firm therein.
In giving this consent, we do not admit that we are within the category
of persons whose consent is required by Section 7 of the Securities Act of
1933.
Very truly yours,
/s/ Saul Ewing LLP
SAUL EWING LLP
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