As well as it being claimed they were selling the custom built 25,000 square foot house near Calabasas, which took them seven years to build, the power couple were also believed to have sold their holiday home in Hawaii.
But a spokesperson for the pair told MailOnline: 'This is all completely false and their home is not on the market.'
The foundations are fine: Will Smith and his wife Jada Pinkett-Smith have denied reports they were planning to put their dream family home on the market for $42million, after living there for just two years
Made with love: The 25,000 sq foot family home took seven years to build-designed to represent their 'infinite' love
The couple, who are parents to Jaden, 15, and Willow, 12, moved into the house back in 2011, after it reportedly took seven years to build.
And it’s no surprise it took so long to construct as the pair, who married back in 1997, were keen to create their dream abode.
Speaking about the property in a feature in Architectural Digest back in 2011 Will said the idea behind the house’s circular floor plan was ‘to create an infinite cycle that represented what Jada and I hoped for our love’.
Hidden in the hills the home, which was influenced from places around the world such as Morocco and Africa, features a meditation house, recording studio, artificial lake, tennis court and basketball pad.
So after all that time and effort to create their dream home, it raises the questions why the couple would want to sell the property after just two years of living there.
As well as selling their Calabasas property, according to the Real Estalker the couple recently sold their Hawaiian holiday home in Kauai.
It’s thought the 7-acre property was bought in a deal off the market for around $20million by real estate mogul Dmity Rybolovlev.
In the past the couple have been forced to deny their marriage was on the rocks after it was reported that Jada had an affair with Jennifer Lopez’s ex Marc Anthony.
The story which InTouch magazine broke in 2011 was categorically denied by the couple and Will insisted their marriage was very much ‘intact’.
The incident occurred not long after Jada was left having to explain comments she had made suggesting the pair were in fact in an open relationship.
After initially saying that the Fresh Prince star ‘is his own man’ and ‘can do whatever’ he wants, she then backtracked.