Proof.
Let us observe that given V and V \to Y as in (2) without any further assumption on f we see that the morphism X \times _ Y V \to V corresponds to a surjective morphism B \to A in \textit{WAdm}^{Noeth} by Formal Spaces, Lemma 87.29.5.
Assume (1). By Lemma 88.21.4 we see that \text{Spf}(A) \to \text{Spf}(B) is rig-surjective. Let I \subset B be an ideal of definition. Since B is adic, I^ m \subset B is an ideal of definition for all m \geq 1. If I^ m J^ n \not= 0 for all n, m \geq 1, then IJ is not nilpotent, hence V(IJ) \not= \mathop{\mathrm{Spec}}(B). Thus we can find a prime ideal \mathfrak p \subset B with \mathfrak p \not\in V(I) \cup V(J). Observe that I(B/\mathfrak p) \not= B/\mathfrak p hence we can find a maximal ideal \mathfrak p + I \subset \mathfrak m \subset B. By Algebra, Lemma 10.119.13 we can find a discrete valuation ring R and an injective local ring homomorphism (B/\mathfrak p)_\mathfrak m \to R. Clearly, the ring map B \to R cannot factor through A = B/J. According to Lemma 88.21.11 this contradicts the fact that \text{Spf}(A) \to \text{Spf}(B) is rig-surjective. Hence for some n, m we do have I^ n J^ m = 0 which shows that (2) holds.
Assume (2). By Lemma 88.21.8 it suffices to show that \text{Spf}(A) \to \text{Spf}(B) is rig-surjective. Pick an ideal of definition I \subset B and an integer n such that I J^ n = 0. Consider a ring map B \to R where R is a discrete valuation ring and the image of I is nonzero. Since R is a domain, we conclude the image of J in R is zero. Hence B \to R factors through the surjection B \to A and we are done by definition of rig-surjective morphisms.
\square
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