Tenants Divorcing - Need advice

[Gurpal Cheema]

Hi BP,

I have a young couple living in my condo her in New Jersey for almost 3 years now. Over the weekend I received a call from the husband saying his wife has done some illegal activity (not inside the condo) and she was arrested for this. He has filed a divorce and she doesn't live in the condo anymore. He wants her name taken out of the lease and wants to sign a new lease for the remaning period which is until January 2017. 

What are my options? Can I just change the lease to his name? What about the security deposit I received from both of them? Do I need to get in touch with her?

Any advice would be helpful.

Thank you