Attorneys with the victim's family say the deal was struck with warehouse owner Chor Ng's bankruptcy case.
Six million dollars will be payed out by the Ng's insurance company, and an additional $6 million will be paid through sale of additional real estate.
Chor Ng and her children were not criminally charged in the case.
VIDEO: Ghost Ship Timeline: How the investigation into the deadly fire unfolded
Go here for all previous coverage of the Ghost Ship warehouse fire.