What’s up with Terry McGinnis’ origin story?

Yeah, I’m a bit confused. See why on the other side of the break.

In Superman/Batman Annual #4 and Batman Beyond #1 Terry McGinnis inherits the mantle from Bruce Wayne. Although Terry calls his ‘boss’ Mr. Wayne instead of Bruce there are clear signs that he is Bruce Wayne. Mr. Wayne watches the movie Zorro once a year (The Mark of Zorro being the movie the Wayne family went out to see the night that Bruce’s parents were killed). In both issues Bruce’s friends and enemies appear, it’s doubtful that Damian was on friendly terms with Superman and sparred against Hush and the Mad Hatter. Both issues seem to take place in the universe of the cartoon show.

Superman/Batman Annual #4. It's Superman talking.
From Batman Beyond #1

On the other hand, in Batman #700 Terry seems to succeed Damian. In the issue Damian takes over for Dick at some point and then Terry takes over for him. Are both origins correct? Do they occur on separate universes? If the future shown in Batman #700 not set in stone? Can someone explain it to me?

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