Angelina Jolie has not bought Petra Island for Brad Pitt.

The owners of the heart shaped island have shut down reports the 'Changeling' actress had splashed $20 million on the land ahead of her husband's 50th birthday next month by revealing the paradise retreat is still up for sale.

The exclusive island is located approximately 50 miles north of Manhattan, New York and sits in the middle of Lake Mahopac in Putnam County, but Donna Massaro - whose parents Joseph and Barbara own the retreat - insists the land hasn't received an offer since it was put on the market four months ago.

She told the New York Post newspaper: ''I don't have any idea where that [report] came from. The family threw it out there to see if anyone was interested, and so far no [potential buyers] have [come forward].''

The 11-acre island contains two properties designed by Brad's favourite architect, Frank Lloyd Wright, including a cottage built in 1950 - nine years before Wright's death - and a main house which was built in 2008 from one of his blueprints.

The lavish property is decked with mahogany and juxtaposes modern furnishings with exposed rock walls from which the house has been built over in addition to work surfaces carved out of solid granite.