Will Smith Selling Mansion? Rumors 'False,' Says Rep

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(Photo: REUTERS / Mario Anzuoni)Actor Will Smith and his wife Jada Pinkett Smith attend the premiere of "The Karate Kid" at the Mann Village theatre in Los Angeles June 7, 2010.

Will Smith and Jada Pinkett-Smith recently denied reports claiming they are selling their $42million California mansion.

The Hollywood couple, who has been married 16 years, have lived in the 25,000 square foot Calabasas mansion with their three children since 2011. The luxury home reportedly took seven years to build and a spokesperson for the Smith family revealed that contrary to various reports they have no immediate plans to move out and/or sell.

"This is all completely false and their home is not on the market," the rep told MailOnline UK.

In addition to claims suggesting Will, 44, and Jada, 41, were selling their mansion sources claimed Saturday that the famous couple had sold their holiday home in Hawaii, however this is also believed to be false.

In 2011 the "Men in Black" actor explained the inspiration behind his and Jada's dream home. Speaking with the Architectural Digest the father of three revealed that 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."

The mansion boasts a meditation house, recording studio, artificial lake, tennis court and basketball pad.

Will and Jada, who share three children Trey, 20, Jaden, 15, and Willow, 12, are no strangers to rumors surrounding their personal lives.

For years the pair has been faced with divorce rumors and in an attempt to end reports once and for all, Will previously opened up about how exactly they maintain a strong marriage after more than a decade.

"We make the effort to always put the family first," Smith told People at the 2012 "Men in Black III" premiere in New York City.

"Being there for each other and being present with our kids is the most important thing. I take being a parent very seriously," he added.

For years fans have questioned the foundation of the couple's marriage following reports of infidelities and in April Jada addressed rumors of an "open marriage" in an interview with Dr. Marc Lamont Hill of the HuffingtonPost.

"I think people get that idea because Will and I are very relaxed with one another. I think because from how I've answered questions of 'girl you know what would you do if he came home and this and that [happened]?' or 'being married to a big superstar like Will, how do you deal with other women?' and I've always told Will, 'You can do whatever you want as long as you can look at yourself in the mirror and be okay," Jada said.

"I don't think it's easy to be married to anyone. I think that you have to go into a relationship knowing— especially when you're dedicating to someone for the rest of your life— this is a life partnership," she added.

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