Lender's title insurance..

[Kevin K.]

Quick question guys,

Is it standard practice to have the buyer purchase lender's title insurance? I'm buying a HUD condo and the title company is telling me that I'm to pay for the lender's title insurance as well my own title insurance and I'm not sure how that works. If I don't have the title as the owner, I'm paying insurance on it for..?? The lender has the title.. so why do I pay for both? Please help.

Thanks

Kevin