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As a legal issue, there is no obligation that you release the parties and you can insist on them both remaining liable for the rent remaining on the lease term. You are not a party to the divorce.
If you wish to release the husband and just have the wife as the only tenant I would suggest you and the couple execute a release of tenancy for the husband and enter into a new lease with only the wife.
Remember, though, you have no obligation to release anyone from the tenancy.