The estate of revered civils rights leader Martin Luther King Jr. has dropped a licensing suit initially filed in 2013 essentially pitting two of his sons against their sister in a fight over some of his most prized possessions.

As the suit formally naming the King Center as a defendant was set to commence in a matter of days, all parties agreed on Thursday to cease and conclude all related proceedings.

Chairman of the King estate Martin Luther King III and president and CEO Dexter King had alleged that a recent audit found hundreds of items that once belonged to Martin Luther King III were being housed in "unsafe, unsecure conditions."

Among the alleged dangers and concerns were that artifacts such as his Nobel Peace Prize and at least one of his bibles were being exposed to fire and water damage, mold mildew and theft. A separate lawsuit filed by the estate specifically named sister Bernice King as a defendant.

Reportedly, the family now plans to meet in hopes of resolving those issues as well. "We do have some very serious issues to address and resolve, and I hope that we will be successful in doing that amongst and with each other," Dexter King said in a statement. "None of us want to see the legacy of my parents, or our dysfunction, out on public display."

The three surviving King kids are the sole shareholders and directors of their father's estate. At a board of directors meeting a year ago, the two brothers voted 2-1 against their sister's plan to auction off some of their father's possessions, among them, his Bible and peace prize medal.

Yolanda King, the eldest child of Martin Luther King Jr. and Coretta Scott King, died in 2007.