I live in New Jersey. I have a jointly signed lease with a friend in a multi-dwelling. He has petitioned the landlord for release from the lease based on a reduction in his salary due to psychiatric disability leave. Though his lowered salary is still well above the norm and leaves him well able to pay his share of the rent, it's possible the landlord will honor his request.
Question: Where does this leave me? I cannot afford the full rent. If the landlord does this, stating it's a release of both of us from the lease, even though I have nothing to do with my housemate's request, can I demand that the landlord give me time to find another place to live? My housemate already has another place to live as he owns a home in another state.
What are my protections and rights in this situation?
Thank you.

