[quote=@Sho Minazuki]
Actually Termina would still exist, as a location, but the one that appears in Majora's Mask would be a parallel world. The post-Hero-failure Ocarina of Time one would also technically exist. Geographies don't disappear just because after all.
[/quote]

No, Termina in all incarnations--if it even has incarnations on the other timelines--would always be a parallel world, not one that can be reached solely by physical travel. Whatever portal or gateway Link passes through in the Lost Woods is the only known way to get there. It wouldn't exist on any map of Hyrule or Hyrule's world like Labrynna and Holodrum, and those countries wouldn't exist on the world map in Termina.

I didn't mean parallel world as in alternate timeline, I meant like an actual alternate universe not dependent on any timeline at all, just existing independently.