The consent order signed by Fulton County Superior Court Judge Robert McBurney says the items are to be released to Martin Luther King III as chairman of the board of his father's estate but does not indicate what will happen to them after that.
King's three surviving children Martin, Dexter Scott King and Bernice King are the sole shareholders and directors of the estate. Dexter is its president and CEO.
The items had long been in Bernice's possession, and the estate filed suit about a week later asking a judge to order her to surrender them.
Bernice King said at the time that the idea of selling two of their father's most cherished items was unthinkable. King won the Nobel Peace Prize in 1964.
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The Bible was his personal traveling Bible and was used by President Barack Obama during his second inauguration in January 2013.
A lawyer representing the estate said during a hearing in February 2014 that the brothers voted to sell the two items because the estate needed money.
The bank is also to release the Bible, Nobel medal and its accompanying certificate and box to him.
McBurney earlier this summer ruled that the Bible belonged to the estate, and Bernice's lawyers had filed a notice of appeal of that ruling.
A trial on the question of ownership of the Nobel medal had been set to begin today. In a court filing last week, the chances of a settlement were described as "fair/poor."
Nicole Wade, a lawyer for the estate, did not immediately respond to an email seeking comment today.
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