Jaden Smith Addresses Emancipation Rumors: 'Everything at His House is Free' (VIDEO)

Jaden Smith, son of Will and Jada Pinkett, addressed rumors that he had requested emancipation from his parents on "Ellen" Wednesday.

Jaden and Will both told Ellen Degeneres that Jaden is not going anywhere, the New York Daily News reported. Will admits that rumors may have started because of a joke that resulted in a plethera of media reports.

"The thing that people don't get is that everything at his house is free," Jaden joked with Degeneres. "I can get anything and everything at his house so I think I'm gonna be there for 20, 30 more years."

Will reportedly told AllHipHop News that Jaden wished to be emancipated from his parents. But the elder Smith told Ellen that the media reports and rumors may have started because of a joke he made in Tokyo.

The two Smiths joked with the daytime talk show host that the only way Jaden would be allowed to move out is if he made a movie that made more than his father's.

"There's no reason to live in my house no more," Will joked.

Jaden, now 14, began acting at 3 years old on the second "Men in Black" in 2002. He appeared on Will's movie "The Pursuit of Happiness" in 2006 and "The Day the Earth Stood Still" in 2008. His star role came in the remake of 1984's "The Karate Kid."

He will appear with his dad again May 31 in the film " After Earth." Also following in his father's footsteps, he released his first rap mixtape, "The Cool Café," last October.