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Angelina Jolie didn't buy heart-shaped island for Brad

It was a nice thought.

But according to people close to the situation, Angelina Jolie did not buy a private island in upstate New York for Brad Pitt's 50th birthday.

"We have no idea how this rumor got started," one person said. "The property is still on the market."

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Reports have been swirling around the Internet—from the Daily News, Daily Mirror and others—that Jolie bought Petra, a heart-shaped private island on Lake Mahopac in upstate New York, for a 50th birthday present.

The property, called Petra, sits on an 11-acre island and has a 5,000-square-foot house that was based on designs from Frank Lloyd Wright. It also has a cottage designed by Wright.

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People close to the situation said the island is still on the market for $19.9 million. They said that they have never received any calls or inquiries from Pitt or anyone connected with the couple.

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"I don't even think this would be right for them," said one person close to the property. "It's not really private enough."

—By CNBC's Robert Frank. Follow him on Twitter @robtfrank.